demonstrated the ability to perform their assigned tasks with rare skill and judgment and whose record of performance testifies abundantly well to their capabilities. In a business such as ours new ideas are a necessity and we have tried to encourage an atmosphere in which they flourish and can be translated rapidly into realities through a streamlined decision-making process. We are a company that has a board of directors and a four-man executive committee and no other committees exist. In the course of my remarks here today I have indicated to you that we are tentatively planning to expand our operations with five new projects. None of these is a certainty but each is a probability. Involved would be the following: 1. Shirley Basin uranium with production beginning in 1971 at 3 8 the rate of 2. 3 million pounds of U3O8 annually at a capital cost of $20 million. 2. Bay Copper in British Columbia, with production of 123, 000 tons of copper concentrate annually beginning in 1971 at a capital cost of $38. 5 million. 3. Coking Coal in the Northern Area of Queensland with production of 4 million tons annually beginning in 1971 with Utah's share of the initial capital cost being approximately $85 million. 4. Mt. Goldsworthy iron ore - increasing production to 6 million tons a year beginning in 1970 with full production by 1971, Utah's share of the investment being approximately $8 million.