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To: veritas who wrote (4605)	8/10/1998 8:18:00 PM
From: Casey	Respond to of 6467

Dave: <<I assume that if Hamilton goes to 800 tpd this fall as planned, the figures would look even better. >> Yes, but it would depend on how they would finance it. As long it is some cobination of debt, preferably 80% or more, then it is very positive. The really critical aspect of this situation is IF they get non-recourse financing. If yes, it is a major validation of the plant and the process and the contracts on the front and back end. It becomes a belleweather for future successes. IMO, it would signal a major turning point for the company. Casey