- All positive and I look forward to a re-rating. AGM should...

- All positive and I look forward to a re-rating. AGM should never have been this low and is still a hold for me. If it gets lower than 70, then I will buy more!!

- However, the ONLY downside atm (apart from the obvious US markets) is the following statement from the Tolhurst report.........

### Plant construction has reportedly progressed from 40% completion at end of
June 2007 to 55% completion at end of September 2007 while AGM have reiterated
production startup by Q1 2008 (February at earliest); and

### On reported quarter to quarter plant completion statistics, it appears that
AGM will need to accelerate its progress to meet Q1 production, we highlight
that vigilance is needed on this aspect.