CIA year end is Mar 31st, so the FS and MD&A will be on SEDAR by end of June but I would expect some NR's before that time.

Also, please remember that CIA owns 63.2% of QIO and the balance held by Resources Quebec. Any income calculations should take only CIA's percentage of ownership into consideration.

Apparently they are shipping 25,000 tons per day now by rail, ergo, approx, 8 days to fill a 200,000 ton hold on a ship, so about 45 ship loads of 200,000 tons each which would be about 9 mil tons/year which is above their forecasted 7.5 mil tons/year.

Based on 7.5mil tons/yr. x $42/net/ton = $315 mil x .632= $199 mil net/yr

assuming my figures are somewhat correct.

GLTA

Terry