Ann: Performance Update, page-5

All good - good news. good management and the Elphinstone touch.

Reading between the lines, EGN is positioning itself for the Great Leap Forward as Mao would have put it. The purchase of the Forrestfield site, the negotiation for more loan-funding headroom at a time when none of the existing headroom has been used are all harbingers of a Great Leap Forward.

The site purchase would have made a dent to cash on hand, so the funding renegotiation may simply be astute management putting the company in a position to do something intelligent with that land, or/and to ensure that ENG can move on anything opportunistic. Years ago I invested in a small Perth-based company, FRI, purely because it had good management and a large land holding. That investment turned out well, and I still hold.