Agree Poyndexter. I'm glad someone else can see a peepy hole of...

Agree Poyndexter. I'm glad someone else can see a peepy hole of bright light in all of this too.

I believe NMS should be able to go it alone in the medium term using the likes of IEV and whoever else happens to come to the party in other parts of the world in the next little while. Depending on how this year and the next phase in UAE, etc pans out, things may or may not require a nudge along with a larger name with more flex. Alternatively, if things go exceedingly well, international players (not only the Australian engineering companies) may end up flexing against each other to get a piece of NMS. If this is the case, NMS will hold all the cards.

I have always held the opinion that the inevitable "strike of the real oil" for any NMS shareholder will come in the form of an announcement about either relatively major work from serious names that finally make people stand up and realize how valuable and marketable the technology is (eg: a contract with major international engineering co, US Navy, etc), or of an announcement indicating an equity partnership arrangement with a serious international player (eg: Haliburton, Kvaerner, etc). Yes, an IEV announcement might make things interesting in the shorter term, but this type of news would give grounds for a step change in the share price, followed by the more matured prices I am actually expecting in future.

Either of these scenarios are not anywhere like unrealistic, since NMS have already indicated in past announcements that they had an introduction to the US Navy (a one liner in an announcement around Sept, Oct last year I think?) and they are in an industry that snatches up ideas if they are worthy of consideration, additional cost savings, or profit potential. I have always wondered if something positive hasn't already happened in that department, leading Clive to his "we will all be very, very happy by this time next year" comment.

I also wonder about the growth phase. Which is the best scenario for shareholders? Seriously diluted, but substantially larger global earnings with relatively secure market, or undiluted earnings with potentially slower growth. If they can get reasonable international penetration this year and the next, then I would hope they can at least manage growth and capital needs in order to effectively establish themselves in the market BEFORE being forced (or lured) to take on equity partners. If they don't need partners by that time, great!

Ultimately however, no matter which way things are player out, a larger partner will be along at some time in the medium to long term future. The bigger picture potential of NMS technology is far too big for NMS to handle alone globally. If the technology is actually worthy of the awards it has received, it is only logical it will become someone else's to share or own in time.

What a bonus for shareholders if they could do it on their own though heh?!