First of all its good to see a profit from the biodiesel plant. We saw in previous reports the accumulation of inputs and now they are turning it into money for us. Lets hope it continues so that cash balances starts increasing. This must be just off the P borther contract...with the building of tank and production for Fortescue.
The exchange rate adjustment makes little sense to me given the Australian dollar was relatively flat over September against the USD. Since it has fallen against everything I can think off. And the don't have enough cash to justify that loss anyway you would think. Could it be related to unhedged input purchases? Can't think of any other reasons given we report in Aussie dollars and really would only hold cash in USD (maybe)...I'm stumped.
TEK Price at posting:
1.4¢ Sentiment: Buy Disclosure: Held
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