Ivernia Inc IVWFF

RE: Year End

[ElJ]

Nice numbers....sales were approx. 10% above my expectations. Production up 8% above Q3,2006 and sales of contained lead in concentrate(including planned inventory reduction) up 52% to 21.3K tonnes. This was in the context of previously announced planned seven-day maintenance shutdown of the processing plant in October and temporary interruption of a key chemical reagent in December with slightly reduced recovery rates from alternative chemical(action to resolve this issue in long-term already taken. When this performance is understood in financial terms, today's share price in the $1.50 region will appear very attractive IMHO, Peace, Good Decision-making to All, ElJ