announcement out, page-9

agree that the market response to this seems very subdued. i would like to have a clear explanation for why the volume has dropped off in the last week but to be honest i don't.

i'm done trying to figure out why investors like leishd think they have some sort of insight that our directors do not, but i figure that anyone who thinks they know better than the CEO and chairman of a company who are readily forking out wads of cash at market for shares, even after one of them has just scored 10m long dated and modestly priced options, will probably remain skeptical even through commissioning, and is never going to buy anyhow.

my general feeling here is that much of the local market maintains the same view as leishd - too exotic, can't compute, must disregard.

i have done ample travel and business in the past through both the middle east and sub continent, and understand that while the peculiarities of the region might confound your typical over-regulated mentality, the breaks and benefits that are possible in such countries leave any business model in the west for dead.

from a technical point of view, the shareprice seems to have remained aloft of the 200ema long enough for it to have begun enticing medium term traders. however i feel like we aren't seeing any evidence of that yet.

it may be the case that longs will be waiting for a few more news events before things really start to shift here. however the longer it takes, the more i feel that the price will rerate. i have just been looking at a broker report which is suggesting it is a buy at 10c with 53c valuation and plenty of upside to come. At some point, investors will feel like they are missing out on that opportunity, and hopefully start to flood in.

sorry i haven't had much time to post lately, i will put up a chart or two over the weekend