Hi VYR. I think that most VMT investors would just love the...

Hi VYR. I think that most VMT investors would just love the Company to have that freedom to grow its investor base and achieve a realistic valuation. Having said that, maybe the ASX valuation is realistic right now, bearing in mind that NIU just announced 1/2 year 2021 sales at 412,809 units. Up 102.1% on '20, and up 164.3% on '19. Current year's growth is constrained because their factory is at 100% capacity, but they are currently tripling that capacity and, guess what, they do their investors the courtesy of giving a year-end target (subject to capacity coming on-line) of 1m units. We get nothing but platitudes from VMT.

Now, before you dance up and down I know that most of the NIU sales are domestic Chinese, but the point is that they have targets which they share and they are achieving very strong real growth relative to the market opportunity. In fact they are driving the market opportunity. By comparison VMT plods along quite satisfied with lack-lustre growth, and still they give us no real guidance.

On trading on the ASX from here, currency is not much of a problem and conversion takes place in real time as you trade. Right now the pound is gaining and is at 1.88 AUD, so good for buying. If it falls back then that enhances the pound value of my AUD investment, so I don't really worry about it. No intention of selling unless there's an offer we can't refuse, or unless VMT Management go mad again and try to sink the ship. But with you now on the payroll I am confident we will be sailing safely if slowly ! 2000.