hold on. don't panic, page-4

Hi guys,

Just to confirm my earlier post, what I was trying to say is that the selling is normal and nothing out of the ordinary. So, don't panic when you see sellers selling into the market. Just let it be and sit back. I believe many people are glued too close to the screen and start to get frightened when they see a seller in ETC.

ETC has 432 million shares and if 1.5 million shares trade per day, it only represents 0.35% of the issued capital of the company. So, let's put things into perspective. I doubt anyone is trying to manipulate the stock. Sellers can sell for any reason. Let it be. Just sit back and relax if you are comfortable with the stock. If you are not, then maybe you are overweight and need to lighten the stock. It's as simple as that.

In addition, as investors, we need to take on board both positives and negatives. Do not shoot anyone down if they have a negative view on your stock. We need to take on board both sets of views and make an informed decision based on the info. at hand. The main thing is we need to justify the views based on facts and not on rumours.

I hope we can agree on one thing. Please refrain from posting a message everytime someone sells or buys the stock. Just let it be. If you are nervous, then lighten up.

FACTS:

1) When management reiterates their profit guidance announcement with 2 weeks left in the financial year, they must be confident of receiving further cash payments. I believe the $48 NPAT will be an ACCOUNTING profit, as the timing of some of their cash payments may have spilled into the new Financial Year. So, when investors look at the annual reports, they may not see the full cash amount reflected in the cashflow statement.

2) If the cash is not received in time for 30 June, management needs to place an additional announcement stating they have received the cash amounts after 30th June. That way, it will kill off any speculation about cashflows.

3) Capital Management. Please consider a share buyback or dividend payment or a combination of both. This will give confidence to investors that ETC is serious in their business.

4) Management needs to provide an update of their overall business. Let the market know how they are going.

5) Management has done the right thing to reduce the amounts of options issued and increased the strike prices from $0.75 to $1.50. That was a good move and that is very positive for the company.

That's all for now. I'll sign off till their report is out. Only a couple more weeks.

Happy investing.