government grants and incentives, page-41

Joe wolf

I am trying to be kind, a $40 m valuation on Geelong , with no net profitc to date ( over 12 months after the MHM board forescast firstly 14m then later 8m ) is my maximum valuation .

Giving any valuation on the Gold and Tasmanaina assets is also quite kind.

US is pure heresay at this stage they have 3 customers all anonymous , and all for undisclosed amounts , at this stage they also have not determined where they will build tha plant or where the money will come from to do it .

So on that basis in my opinion the current market cap of over $100m is exuberantly generous .