Ann: Epanko Bankable Feasibility Study, page-12

Ilyas, you may be right, because it may take a few days at least for a few insto type people to read through the document, ask Andrew Spinks some questions, and be comfortable with the answers. But going forward, it won't stay sideways for long.

At the end of the day, a $45m AUD EBITDA, equates to something like 30c per share. That's 30c per share, every year, in EBITDA. Not bad for a share you can still buy for 20c (although you couldn't pick up a lot of volume at 20c).

It's like buying a house in Sydney for $1m, knowing you have a tenant ready to start paying you $1.5m pa in rental income within 2 years. Sure, you have to pay tax and a few other costs, but your tenant is a rolled-gold tenant with no bad rental history and a very, very strong net asset position, and whichever way you cut it you are going to be making a return which makes a mockery of your initial purchase price. That is how to invest (although good luck to all the short term traders, because I don't begrudge them trying to make some money before the bigger money starts buying in larger volumes).