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Hi Jaded

I agree with you 100% about our PR people in Aus and Europe. The First Minister's visit to the demo roof turned out to be a complete fizzer as far as I can tell. Can't find a single thing about it on the web - no photos, no performance details. Another PR failure imo.

Regarding my $6 valuation, I apologise for not making myself clear. I consider $6 to be fair value NOW - at the very least it's my 12 month target. And it's based on profits due in the next couple of years, profits from the scale-up production line about to be built, profits we can predict with some degree of certainty. Imho there's very little voodoo prediction/extrapolation involved.

If I DID want to indulge in a bit of voodoo prediction/extrapolation I could come up with a current SP valuation in excess of $60. For example, Tata's forecasting production of 40M sqm by 2016. If we assume the glass project is producing half that amount in 2016, DYE can generate $3B in revenue according to Richard. But of course this is 5 years away and imo there are way too many unknowns to justify any SP based on these numbers. At this stage it's just an interesting example of the blue sky potential.

You're correct that my simple calc assumes a fixed number of shares (143M). I'm happy to revise down to $5 to allow for a couple more capital raisings. In April 2010 Austock quoted a stretch valuation of $4.80, so $5 is in the ballpark.

I'm quietly confident that last week's technology validation, scale-up and demo roof announcements will lead to a significant re-rating of DYE in the coming months. A recommendation from a respected broker may provide the catalyst, rather than media coverage or further announcements. DYE becoming profitable and the US ADR should lead to wider broker coverage.

As for your charts Jaded, my knowledge is limited. You may well be onto something. I'm not trying to discredit them.