11 - little changed should also result in better profits at Navajo. We also anticipate modest profits from a new steam coal mine being started up near Craig, Colorado. It currently appears that the volume of uranium now under contract for sale will be up modestly in 1977. Higher stripping ratios could hold profit levels to a small improvement over 1976 but this could change if the management of Lucky Mc Uranium, which under the voting trust agreement cannot be controlled by Utah or G.E., decides to increase shipments from its already large existing inventory or from uncommitted production. Ladd Petroleum is also anticipating a modest gain in profits with physical quantities declining but prices improving. Finally we have hopes that after some years land development activities will once again contribute positively to gross profits. This is not an activity that is either significant or one in which we intend to remain, for present problems today in obtaining zoning and environmental clearances make the game not worth the candle. However, for the last several years we have found ourselves in an impossible position, caught between one governmental agency that insisted we could build only single family homes and another demanding only multifamily structures on the same large piece of land in Alameda, California. This matter has now been resolved and we can at long last proceed with the development of the property. While this dispute was going on interest and taxes were costing us some $2 million a year. Now we anticipate that with this burden removed we can once again enjoy profits from our land development activities.