This has been our top performing stock for 2009/10. We luckily plucked it from blue-sky research of some retail data from BMO. The market had/has been so busy playing the zero-sum trade game that a lot of great quiet performers were totally ignored in early 2009. Beyond that, this company has a great reputation in Ontario, as born out by the FWR deal, and is perfectly positioned to become the key player in the RoF, albeit quite speculative. ITS dealings with Wabush, Arcellor and FPX to name a few are just further examples of an outfit that has no trouble attracting strategic partners in win-win relationships. Any shorts who are not very short term players will find a very tough buyback here.