Shoes;

I am slowly accepting the fact that IG may not mine Las Crucitas but I am also aware of the value of a fully permitted mine with a bankable feasibility study,  which is "Las Crucitas". I would imagine that if we are successful in our Sala 1V appeal then the project may be sold to another company, e.g. Barrick??????

I believe there is a figure that IG will take and walk away from Costa Rica, what it is I do not know but it has to be substantial otherwise an ICSID arbitration is the logical route, albeit a longer one. I simply cannot conceive IG exiting Costa Rica without adequate compensation for its investment. it just won't happen.

Shoes:

Is it your "educated" opinion that the most IG would receive from a positive decision on Vz is $75 million? Do you estimate that figure as being its "own" capital investment in the project"? I envisaged a much higher figure as compensation, based on, of course, an award in excess of $300 million.

I fully expect a 2-1 decision in our favor. Prof Brigitte Stern will be the dissenting arbitrator.

What is your expectation as to a date for a decision on these two issues. I believe that events are "unfolding"  on the Costa Rican front.