worth a look i think .09 or .10 likely, page-7

re: announcement out - security returns... Paul100, I think you have been appropriately cautious in your assessment, and that your price forecast, unpleasant though it must be to TNC holders, has a strong chance of being proven accurate.

It is interesting, and possibly illuminating, to compare the general tone of this latest Transol announcement with that which has characterised almlost all that has gone before. The company has never been backward in coming forward, right from the time of its prospectus (as Hot Rod has subtly indicated). Typically, the hype has been heavy, and full of super-confidence about the future. Yet this time the mood is different - subdued, cautious, "Nothing can be revealed, it's all confidential, yada, yada, yada".

So what does this mean? The same people are in charge (though not the US managers, who have resigned). Where has their confidence gone? Do they, perhaps, see the same writing on the wall as those shareholders who have sold 15% of the company in the last four days?