While Delta continued to post significant losses in January, the company is making progress in stabilizing our liquidity and implementing our business plan.

While we are encouraged by the progress we are making, we are still in the early stages of our turnaround efforts. We need to remain focused to ensure flawless execution of all elements of our business plan.

This is a company in turnaround mode, but we would have liked to have seen more progress. There wasn't anything that even hinted at a major rebound.

I am very proud of the progress the Company has made both operationally and financially over the last several years. We began 2006 with positive momentum and very solid results. We continue to make excellent progress in strengthening our capital structure, paying off debt, growing earnings and most importantly, growing cash flow.

This is an important development for the company as we progress to producing iron ore from this historic mine.

While the end markets Motorola serves continue to be weak, the company is making good progress in improving its strategic focus and in reducing its cost structure.