re: Ann: $3.5m capital raising and presold of... Hi AllGreat...

re: Ann: $3.5m capital raising and presold of... Hi All

Great news today. Things are certainly starting to happen now and with the sale agreement for the first 200 000 tons that means that they could be booking a profit of as much as $10 million before 30 June next year.

If you double that to get a conservative annual profit of $20 million and a PE ratio of 10 the share price should be around 20 cents by this time next year if not earlier.

Still dont think that management should be so greedy with their bonus options. Case in point is the new CFO Sean Freeman who has only been there for less than 4 months and they want to give him 20 million option. WHY?????

Same goes for the other 2 new directors. Cedric Goode is doing a great job but IMO it is a bit early to be giving him a further 40 million options just yet.

Looking forward to seeing what happens over the next few weeks.

Good luck to all holders.