Recent 'Market Update' and 'Progress Updates' show the sales and revenue they have been making. (eg. see announcement dated 2/2/07).
QMG looks promising.
However I did some calculations a couple of months ago and whilst the EPS was OK, it was not that great for a huge upside.
On $7M and $10M NPAT (as previously posted) we get 5 and 7 cents EPS.
I think a stock like this must be placed on a PE ratio of 8 to be safe (but that depends on the high quality manganese market, which QMG states is tight and growing).
A matter that concerned me the most was QMG goal to buy some manganese plants that were recently closed down. (see announcement dated 2/2/07).
This would require large capital raising and high risk.
This stopped me buying recently at 28 cents.
To conclude, I agree this is a sleeper and could do very well.
The profit and loss reports this year will be very interesting and anticipated.
QMG Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
