investor presentation out, page-24

So the question is, who would buy Fonda. It would make sense for Reddys to buy it as all the hard work has been done on their behalf. They would just keep doing what they are doing and pocket and extra $10mill a year. I know that figure will grow but I think $200mill is way off the mark. In current market condition that would be 15 - 20 years to pay off the initial investment. I know that it is not just the product they are buying but also the science as well. To me a more realistic figure would be $70 - $80 million. If Alchemia have enough cash in the bank at the time of sale (if this happened), then you would think a lot of this would go back to shareholders. The benefit of keeping Fonda is it doesn't require much man power at all from Alchemias point of view to keep it up and running so it definitely is a good revenue stream for not much effort. I guess if a deal gets done for HA-irinotecan (licensing, as picked up in the powerpoint header), then that would mean Alchemia are in a great cash position as they would no longer have to put their hands in their pockets for HA-irinotecan, there bank balance would grow nicely with all of the other projects not costing much either. No doubt we would see dividends coming our way if this is the case. The only thing Alchemia would need money for if this is the case, is to start trials of the other cancer treatments using HA. I am very encouraged with with the Near Term (3-6 months) "Potential partnership deal for HA-Irinotecan" comment in the presentation. and if this goes ahead then we may even see some sort of dividend in the first half of next year, now that would be a welcome announcement and nice surprise to us longer termers.

I haven't seen a post from Surfrat for a while but mate it seems the plane has landed in Hawaii, the bags are unpacked, the board is waxed, the swell has definitely picked up and the perfect wave is just around the corner - ENJOY THE RIDE