confidence, page-9

I have no knowledge of time frames for final barging study. I would guess that it would have to be be year's end. I will go back over last annoucements.

If you just consider the barging economies for a moment....Say its $15 p/ tonne cheaper than rail ($30 - $15) x 6,000,000 export tonnes p.a. = $90 m transpot saving, going directly to profit...x 5 to get a Sp valuation impact = $450 m!!

Something like $1.50 addtional value per share

RIV has so much to consider when arriving at some sort of valuation. I'm a long term holder; either till TO, or mine in production.

Cheers, Skip