clear heads will prevail, page-8

I understand your concerns suhm, I share some of those as well.

I have set myself zero expectations that they will any of the 12 or so projects they mentioned in their pipeline update. I am holding purely on the basis that they already have two contracts which allowed it to earn a NPAT of $46 million. And that the customers are paying.

Even if they don't win any additional contracts in the next one year, they will still be operating on a P/E of 2.5. If it weren't so ridiculously cheap, I would have sold a long time back.

I reckon NBS need to build credibility by giving an update on their cash position once they have received a material amount of it. That's what the market is looking for. All this talk about new contracts to me is just smokes and mirrors to dodge the cash issue.

PS- I believe the cash will come but based on personal experience know that certain governments take a long time to pay up.