Most LT holders know that they only proposed to make $230000 pq...

Most LT holders know that they only proposed to make $230000 pq profit until the full upgrade... This has been achieved even though they had a HUGE unexpected Landfill cost. Thus this process and sales revenue is being exceeded. The market currently does not see this and tis company are not big on hype currently. I am sure it will be a different story when the plant has been upgraded to full capacity in a few weeks- IMO.

Now at full capacity the modest target of 8.6Mil pa Net Profit is nearly already fully contracted to Sims and Alcoa. So what is a fair price to give the stock. The process works and we have a forward PE of currently 2.

Naturally many of us wanted to see a great quarterly before loading up a lot more. However the landfill expense and delay held many of us back I feel. As the project is nowhere near priced fairly. It priced only a current output.

Once at full capacity and we see an over 2 Mil quarter we will be rerated. It seems inevitable to the believers. Then the sales could sky rocket to the overseas market for 2011.

Yet first we NEED this upgrade to be completed and the plant running at full capacity. Fulfulling contracts with Sims and Alcoa. Proven process, positive cashflow, delays holding SP back and I believe we will be seriously rerated before this year comes to a close.

Even when they producing the 8.6 Mil modest target, the sales potential outside Aussie is far more than our little country.

The 29th of Jan presentation is worth a read again. As they are producing as stated. Just after this they got to near 40c, yet the market has forgotten and moved on due to 'opportunity cost'. Due to small amount of shares on issue the move over 40c could be nearly instantanous on OKish results... Hoping the quarterly would be it- need to wait a bit longer.

Next quarterly should not see the HUGE expenses of last quarter- as claimed they a rare event. Great ANNs could happen in Sep\Oct- IMO. Plant upgrade then the quarterly to prove results is our next step.

For my money the other projects have very little enterprise value.

Yet I think it safe risk-reward wise to give the 8.6 Mil figure a forward PE of 6 for my money. Making it worth 51.6 Mil. We are currently valued as a whole of all projects at approx 18 mil MC. Seriously undervalued IMO.

This has definately been a patience is a vitue deal... accummulating all year long. As they get closer to the upgrade and the Conservative estimate of 8.6M Net Profit from this project when upgraded.

IMO- DYOR.