research & resulting questions, page-83

ACB I agree and you have hit on a point that we have probably not covered in this thread yet.

At this point in time all my figures and assumptions are conservative (as correctly identified I have done this to highlight the potential upside/solid underpinning of the company). However once we get Moolap up and running and a US agreement signed then MHM turns from being a "potential growth stock" to a "growth stock", especially if we get an announcement that talks about future plant roll outs and/or a significant agreement with SSC.

When that happens it is time to revist all of our figures and apply a PE that reflects the future growth of the company. At this point we will also see a different type of investor enter as MHM will have an entirely different risk profile.