December edition of financial review/smart investor did a...

December edition of financial review/smart investor did a article "tantalising ten cent tempters" and this stock was one.
This is what it said.....

After delivering a profit of nearly $3mil in 2004-05 HMC looked as though it was poised to make the transition from a struggling pioneer of environmental technology to a provider of essential services with a promising outlook.
While a depressed market for selenium resulted in a $875 000 loss in 2005-06, HMC should not be written off. Management believes that the selenium market will improve in 2006-07 as increased usage by glass manufacturers boosts demand. Equally promising, and perhaps more significant in terms of protecting HMC from commodity volatility, is the company's diversification into battery recycling and the production of zinc sulphate from electric arc furnace dust.
The zinc sulphate by-product is sold as a fertiliser and management claims it has gained a substantial share of the Australian market in 2006/07. With regard to the company's battery-recycling project, the feed source has been secured and lead product and plastic recycling customers have been identified. Recycling should start in early 2006/07. Management believes that HMC's diversified revenue streams will result in the company performing "very well" in 2006/07. Although firm profit guidance is not available, even a small profit is likely to have a significant impact given the company's depressed share price.


I bought some....