SVDM, like your contribution to MHM thread. Most of us know that...

SVDM, like your contribution to MHM thread.

Most of us know that we have some delays and they continue to be a little longer due to a 'picky' small time council. No doubt it has cost us several million in profit... yet what great buying for less than what Plant 1 will be worth in 2 months.

Plus the OS JV deals have been put back a little also IMO. As i have always stated something is stitched up with Alcoa once Plant 1 fully commissioned. It a little disappointing about the delays, yet great buying into weakness.

Rogers the Director agree...picking up over 50K again.

Whilst most will feel they needed to release some good news with the bad I personally wished no Director buying for the sake of an accummulation at 90c or so. Yet Directors are putting money where there mouth is...so this is worth a few cents to me.

Silica is icing to me... i do not factor it in at all.

I now think Plant 1 has been discounted 20% more due to delays. Would have been more if the Director did not buy on market.

i am a big believer in watching insider trades and watching my database closely for signs of Coy's on my watchlist... the big green ticks on small caps do mean a lot and greatly outperform all other small cap Directors who do not buy on market- this is a fact not IMO.

So where we at now;

45c value on Plant 1 (True value at modest PE = $1)... yet as many know i feel far more upside to the $720,000 profit before tax per month. As we not far away now.

60c remains for OS expansion probability. Always oor blue sky potential at $1-$2 for every future plant depending on profitability. First one Tennesse unless Alcoa come to the party after Plant 1 fully commissioned and make an offer too good to refuse (JV wise).

Now both have been delayed a little IMO... I feel Ben will ANN that his trip to USA will be posponed until full commissioning of Plant 1 is complete in Feb 2011. As 3 weeks of laying down of pipes, etc needs to be performed after Council approval in mid Jan 2010.

I believe the council are being fickle over the heritage listing...a few small time guys sitting in a office feeling they have a lot of power. Good one guys... well we better not piss them off too much i guess. Lol.

I would complain higher up to see if we can get the approval sooner... Ombudsman should be involved as they are holding back great developments in 'Green' projects locally and worldwide.

However on the plus side those who regretted taking profits at $1 or so then it flew past $1.50... we have an opportunity again.

As a Director it would have been far more adventagous to release the delay then buy below $1... but Rogers is happy to buy at $1.1. Well he has huge numbers via his investment house Transocean anyway I guess. Not a lot in his personal name. So he accummulating in personal name now as well. Means very little compared to current holdings yet is a sign of confidence.

So the Herald Sun daytraders 98c stop loss is still safe for now. That the problem with stop losses many can get them triggerred on purpose to accummulate. When mine are triggered I do not sell I review the issues a little deeper then make a decision.

In this case a $1 stop loss would be a BUY for my money.

Cheers JAY