future prospects

Hi

Current management appear to be resurrecting this
company.

From an IPO at 50c the shares declined to the pits,
obviously on the verge of administration, controlled
by dreamers so far out of their depth as to be
amusing if it wasn't so serious for the suffering
investors.

Current management have achieved the most difficult
of tasks facing any managers i.e. turning around
a total disaster into a profitable operation!! Dont
underestimate the brilliance of their achievement to date. Many think they could do the same, but few have
the intellect and competence to actually do it(good
example, DW).

So, congratulations TOX management on a job well done, so far.

Its a 'hazardous' game TOX is in. Only 6 mths or so ago
they were indicating Kwinana could be a significant
profit driver for the company. They now appear to have
changed their mind and will be looking elsewhere for
growth. This realisation, to me , is a significant positive. It had the potential to be another disaster
of a kind committed in years past. The've done their
'homework' and it now appears Kwinana is not as
prospective as it first appeared. I believe this to be
reassuring.

If I understand their accounts correctly TOX had
borrowings of $2.324m at 31.12.04 and have repaid
$150k of this exposure in may & june '05.

I am expecting and would be pleased to see a NPAT of
about $250k for july '05.

IMHO, current management are doing everything 'right'
and I expect them to continue to do so. Thats probably
why I, and I note quite a few others, have significant
holdings and intend to hold for the longer term and reap the benefits a competent management can generate
for patient sharehoders.

BUT DYOR(do your own research)

good luck to all