2003 has been a momentous year for Pan Andean Resources. We have been in regular talks for months now with partners about this and that, but they always spoil it by asking us to fork out some cash. I would like to pay tribute to T.W. who has given us unstinting support and has allowed us to spin some much needed rumours about this and that which never quite amounted to much. And I would like to thank our shareholders who have faithfully stuck with us through these exciting times. I know 2004 is going to be great for some of my companies and I hope that with a lot of luck, PRE will be one of them. If not, we will be able to look back on exciting opportunities that have passed us by yet again. So heres to rumour, heres to spin keep the shareholders all locked in.