excellent result, page-2

I agree sydneysider 10c would be an appropriate valuation at the moment

A high pe ratio should take into consideration for everything you just discussed.

The announcment did say that the forecast does not include:

- planned upgrades
• Upgrade of the kiln gas management system at Port Hedland to increase production and improve environmental performance;
• Upgrade of the front end feed system of the Thermal Desorption Unit (TDU) at Kwinana to increase production;
• Growth from potential acquisitions and joint venture opportunities; and
• Greater than forecast expansion and income stream from new technologies and services.

For the first six months of this year, it must be noted that the profit figure exceeded original forecasts. This means that the company are fairly conservative when estimating profit forecasts. This gives more substance to todays announcement.

Still by far one of the most undervalued stocks on the ASX.

Cheers