chairman's letter to shareholders, page-17

Yes I think the next 6 months will be interesting. Basically could depend on what the global markets do. If they go up, then we will go up. if they go down, we will go down (probably plus some). The next month or two will probably be volatile, but think we may get some good steady increases from Sep/Oct through to Dec. As previously indicated by management we should be expecting long-term supply agreements to start getting locked in the end of 2011 or early 2012 (early 2012 may be more likely) - this should be when we see some really significant upward movement in the share price. There is sure to be other announcements between now and then in relation to new sales/pharmas, clinical trial etc, but as seen previously, these may not impact the sp too much, depending on sentiment at the time. A capital raising is not out of the question and I have always factored this in for my projections. The diluting effect is not material when compared against how undervalued this stock is and what the value will be once long-term agreements are locked and loaded.