The Press ReleaseWhile the completion of Year 1 of the cobalt swap is good news and confirmation of the Cuban's committment to the agreement, the real but subtle gem is further in the news release - the decision to pay the PIK bond interest in cash. Two interest payments in cash allow for the use of "Restricted Cash" in returning capital to shareholders. The amount of capital available for this purpose is defined in the Trust Indenture for the 8.5% bonds due 2026 in Section 4.07 Limitations on Resrticted Payments (don't try to calculate it you will only hurt your head. Trust me when I say the amount is very substantial.) So absent a negotiation to expediate things, one would expect to see a significant share buyback begin after the PIK cash interest payment on January 31, 2024. The return of significant cash to shareholders will remind the bondholders of their structural subordination to shareholders in this very unique situation and soften their relative negotiating position as the Company moves toward a low/no debt status.