quarterly update errors and omissions

Well I read the latest quarterly update, and to me it has some very obvious errors and omissions. It is almost as though they Don't want the share price to go back up.

First they have the statement: The last six months have seen the price of palm oil - the primary feedstock - jump from $400 to $880 per tonne, resulting in a serious downturn in market sentiment.

This is NOT correct. It has taken 18 months for the price to climb from $400 to $880 per tonne. The price six months ago was about $600 per tonne.


They do mention that the price of crude is at an all time high BUT they don't put a figure on it to put the feedstock price into prospective. Crude Oil has gone from $50 to $90 BBL this year which is equivalent to $300US per tonne.

They could also have mentioned again the effect the US subsidy on Biofuels is worth. Whilst this is only $1US per US Gallon, if you do the calculations* you will see this is equivalent to $300US per tonne


How about the "On schedule for completion in Q1 2008". That certainly isn't the sechedule that was indicated in the original prospectus. How vague is "Q1 2008" anyway ...





At least they mentioned their Jatropha Oil contract on almost every page ;)





*Based on 1140 Litres per Tonne, 3.8 Litres per USG