For those interested - another good but quiet Brisbane meeting...

For those interested - another good but quiet Brisbane meeting Thursday. Company/Board representatives were Lee, TOD, John Nicholls, Trevor Tappenden, Brett Farmer. The stated business followed the script, and didn't take too long.

As usual Lee and TOD were then generous with their time in servicing a fairly wide ranging question session from those shareholders present. This shareholder can fairly claim to be a meeting veteran from over the years, and I have to say that basically we had 'every' opportunity and nothing left to ask before moving for coffee or tea. While a lot was covered, I'm thinking that forum members may be interested in just a few in particular that I would personally choose to highlight:

- The recent (2nd) Rights issue was seen by (some shareholders) as modest, but was pretty much as anticipated by the Company, and actually had a bigger percentage takeup from shareholders than the previous (1st) Rights issue a while back;

- Andrew Doyle (some would know) is an Aussie national based in Singapore. The recent top-20 drop in his apparent share holdings was actually replaced (as announced) with a different format that helped the Company directly while also increasing his net overall position. His MST support is rock solid, so no confidence issues to worry about there;

- While subtly stated on the day, there was a clear view from the Board that the market doesn't yet fully understand what the Canadians are actually saying. (As discussed on this forum some time ago Defence Canada are trialling the Maul and 3GL and are on record as stating they are updating their military to incorporate Metal Storm Technology into their future capability. IMHO surely more will follow?);

- As we know, the Company has something for both lethal (mainly military and defence) and non-lethal (mainly police and enforcement) markets. The former are characterised by long lead times in procurement, but the latter are more flexible and immediate for procurement. The Company would appear to be massively viable 'soon' even with just the non-lethal stuff, and still has the other (Defence Canada etc) to follow.....;

- TOD reinforced the thinking of many shareholders - and certainly those at this meeting - by cautiously (in his inimitable style) noting that the Company is currently more confident than ever about their future.

There doesn't seem to be a lot else to say. Doh.