The second was a series of three contracts providing for future delivery to private customers of a minimum of 740, 000 lbs. of uranium oxide in 1967, 895, 000 lbs. in 1968, 850,000 lbs. in 1969, and 850, 000 lbs. in 1970. These contracts, together with the balance of our contract of about 1, 000, 000 pounds annually with the Atomic Energy Commission, will enable us to produce near capacity through June 1970, thus materially improving our uranium profits in those years. The largest and perhaps most significant addition to our mineral backlog was the contract for the sale of thermal units in the form of coal from our Navajo Mine in New Mexico to fuel two new 755,000 KW generating units being built near the mine and owned by six members of the WEST Associates, with the electric power thus produced serving the markets of these utilities stretching from El Paso to Southern California. The fuel agreement runs for 35 years with an option on the part of the buyer to extend for another 15 years. When the two new units come on stream, the first in 1969 and the second in 197 0, our annual production will be increased to 8-1/2 million tons, the largest output of any single coal mine in the United States. To reach this production we will be increasing our investment by an additional $18. 5 million. So you see the steps that we have taken will cause our mining output and income to increase substantially during the next several years - an improved product mix in Marcona, expanded capacity at Pima, and increased deliveries from Mt. Goldsworthy and from uranium, all will be influences in 1967. Coking coal will come in 1968 and the Navajo coal expansion in 1969 -9-