Hi Ayrman,thanks for your post, and comments about tox. I'm not...

Hi Ayrman,

thanks for your post, and comments about tox. I'm not a subscriber to the idiotic slanging match going on between people here.

Just to go through some of your observations:

1) The plant at Kwinana is a basket case, and will cost $1m to rectify.

You're half right. It is a basket case, but will cost $2.25 million to rectify! The Kwinana plant was losing money, and driving the company to the wall. They've restructured the operation there, and now the Kwinana plant operates only at breakeven. They are carrying out an engineering study on totally new equipment which will cost $2.25million, to process a larger quantity of contaminated soil at a cheaper unit cost. The equipment will come with performance guarantees. This is not 'in the bag' yet, and I hope to hear more on this in their Final Report.

2) They managed to get 'a' contract up north.

In fact their order book was fully booked out a year in advance at the beginning of this year. Their Port Hedland plant is operating at full capacity. With the current WA mining boom showing no sign of slowing, I don't believe there will be much problem getting business. In Port Hedland, with restructuring of finance and operations, this plant is now cashflow +ve. This plant alone is pulling in $3million profit per year annualised.

3) You note you don't like the new director Ian Burton, and he has a bad track record.

Ok.. I'm no expert on the man. But I have seen this: Every promise that the new management have made on THIS company has been met AND exceeded.

4) "Creative Accounting"
Please be more specific. To me, profits after tax, leading to cash in the bank, is a tangible item .. not creative.

Glad to hear your comments,

Joel