great agm presentation, page-7

I too have been a long term TOX holder - since under 2c in the old money before the 1:8 consolidation. Great presentation, great management, and the chart looks excellent when compared to the vast majority of the stocks on the ASX. Sideways is much better than down!

I suspect it will be some time before dividends are paid - they are still in growth mode, and still looking at more acquisitions. All the ones they've made so far have been cashflow positive, and flow through to the bottom line. Not to mention the expanding of the armoury of technologies they are acquiring, in an area with a high barrier to entry. The whole toxic waste disposal field is notoriously difficult to get licenses in, and TOX are doing wonderfully well with their own licences and adding the ones from their acquisitions as well.

Outstanding long term investment - definitely NOT a short-term trading stock. It is in the bottom drawer alongside my PDN shares for the next few years.