Pengana have been buying up heavily over the last three months,...

Pengana have been buying up heavily over the last three months, and at prices well north of the $1.50 we're presently at. A nice vote of confidence for anyone who was starting to get worried about the tumbling share price. It's also fairly reasonable to assume that they were behind the big trades on the 19/3.

Also note that Pengana have a bit of history in timing their buying just before TOX make a (positive) market sensitive announcement. They bought big on the 8/10/07 before TOX acquired the Queensland facility; then again bought big in late December before Karratha Mini Skips, and are now buying up big again.

Coupled with the unusually aggressive language used in the HY report from what is usually conservative management, i wouldn't be surprised if something fairly large (and positive) is on the short-term horizon.

I'm getting very tempted to increase my holdings at this level.