Ann: Half Year Accounts, page-2

The Canadian Analysts predicting a 0.03+ cent adjusted earnings had failed to adjust for the increase in shares due to the acquisition of Altona, so 0.2 cents seem about right.

Not withstanding, the increase in cash seems to be attributable only to the Altona takeover, I wonder what "operations" means.

It is clear that the AOH takeover was to protect the balance sheet and therefore a smart acquisition. One has to congratulate CMMC management.

I would not be too concerned about the unrealized foreign exchange losses on the MMC loan, the US dollar surge is temporary and once higher metal prices return the CAD will surge.

Overall I think it is a disappointing result given the high copper prices for the 2nd quarter.