excellent year, page-6

banger,

thanks for doing the calcs that i was too busy to do. seems accurate for the basis of my argument and on the lack of news flow that is produced in between quarterlies (which haven't had financials for 6 months, any reasons?!)

the debt was one of my major concerns as well and will be intersted to see how it appears in the Annual report.

i am not negative on the stock, just the last half and the lack of updates headed shareholders way from management. I know they are busy, but i am slightly sceptical. an example:

ONC announced way back the JV with the chinese bank, presentation came out saying how good it was, we get 50%. All good.

another REVISED presentation comes out the next day, now slide 11 (going off memory here) says that FCP Brencorp has the right to buy 50% of ONC's stake. Seems like Scanlon pressured management or something, and was never formally announced to the ASX. ie: wouldn't a right to sell half our stake in a business be price sensitive? was nowhere to be found in original doc.

good company, good growth prospects, good management, but as always, gotta watch them closely. i am sure investors in MFS, Allco, etc wished they had known more about their companies. Always got to be cautious.