Just spoke to Ian Cameron who enlarged a little on yesterday's ann. They consider the "pilot" is now a "project" and the scale has increased by a factor of five.
He also added that they did were comfortable with their current capital model but may need to source addition funds in the event of very large orders being recieved.
Overall, he was pretty positive about the "modest success" they have achieved in the last twelve months. He agreed that because the stock is thinly traded, it would suffer the occassional absence of buyers and some manipulation, but noted that any significant market penetration in the US could result in a substantial re-rating above the current plateau of 10-12c.
He suggested phoning Peter Atherton in the US on 703 242 8266 and look at the US Customs website for more detail. All this gave me a lot of comfort.
Cheers, Nick
MIK Price at posting:
0.0¢ Sentiment: None Disclosure: Held
