Hi Morley and Chris,I think you guys are reading a different...

Hi Morley and Chris,

I think you guys are reading a different annual report to me.

Chris, while the company has not put out a profit forecast, the sentiment regarding the outlook was undeniably one of cautious optimism. All the signs are pointing in the right direction.

Morley, I'm not sure what you are talking about when you say that the group paid no tax. The group paid $3.12mill in income tax (an effective rate of 32%).

When/if the company confirms another 1c dividend for the Dec half (and it is my bet that they will), then punters buying at current levels will be locking in a 10% yield, fully franked.

While significant macro-economic hurdles/risks remain, confirmation in the December half that the recovery is on track should put this stock on a trajectory that will likely see it double in price over the next 12 months.

I wouldn't be surprised to see one national/mainstream broker initiating coverage on LGD with a buy recommendation either in the next few weeks or following the December results.

During the interim before the dec results, expect this stock to continue to slowly creep upwards, wider market sentiment permitting.