quarterly, page-3

Hi gmac

Good to hear from you - it can be lonely being a CTE shareholder!

No you are correct - there is nothing in print regarding a divvy but I think I'm on pretty good ground. They have in the past indicated to me that they are keen to pay a divvy as soon as its prudent. I thought it was a good chance at the interim and was disappointed there wasn't - however I understand that the company wanted to be conservative with the upcoming expenses of the fitout of the new premises and the trialling of new processing equipment (both mentioned in the half year report).
Assuming 'business as usual' I would think that a divvy was well and truly on the cards by the time they announce the 2008 result.

Hang in there gmac - it can be hard swimming against the current, but I really rate CTE as one of my 'high-conviction' investments. Profitable, positive cash-flow and a plausible growth path in a niche market. I've got a goodstake and have nibbled more in the low teens in recent times. Really just too cheap.

Cheers