appendix 4c, page-6

can't argue with your logic T4Q. I have done quite well out of CMO in the past, but it has definitely gone bad in a major way for me lately.

It used to be quite liquid, but I wonder now whether that was due in part to large numbers of the shares being under opes prime agreements.

One thing is for certain though, current market cap is about $6.6 Million, and the forecast EBITDA is $8 million. I think it would be rather unusual for a companys EBITDA to be higher than it's market cap!!! of course EBITDA is not profit, but even so something just isn't ringing true. I think either we will see it spiral into oblivion, or see a massive re-rating.

I'm hoping that the stock just got knocked for six because of Opes Prime, and all will come good when the yearly results come out, whether we will see a return to my 23c break even price or not is hard to say, but if the results are good I think the increase in sp will be quite swift, which is why I'm thinking of adding to my losing position.

All the times I haven't averaged down, I've regretted it, and the one stock I have done so on (INL) I've also regretted... seems I can't win!! ;)

Tony.