Ann: Change in Substantial Holding - Link, page-3

Hi Mickman

you have seemed disenchanted of late. hopefully you have seen the positive out of today's announcement . this to me only servers to strengthen out partnership with the Chinese. great move 

"The Chinese hit their sales targets, great job and well done." yes fully agree on this, in under 2 years we have nearly completed about $20m in china and when compared to a couple of years ago  the yearly figure was $4m  this has been a huge growth story. apart form the sales already done the china pipeline is over $100m that is some big efforts being made in this area is a short period.

"Concern now... since the allocation of these bonus shares, our shares have become diluted and the SP has tanked" yes the share price has dropped in the last month and yes dilution would be a  part of this but then the overall market has preformed bad

  "Sure our Chinese friends have some skin in the game but are they just going to slowly take profits and leave the rest of us hanging to dry?" i would not think much evidence of this, and from today announcement they only seem to be strengthening the bond. Mr Zhang did invest another $100k net the other month with purchase/sells which shows confidence .  to me the sellers i don't think are the Chinese, more the locals. i would say the Chinese have a far better idea than us the potential with this stock, they are at the coal face, and i would image they have a far better idea of how much of this $100m pipeline is connected with BHZQ/ BEWG and therefore the likelihood of proceeding.

" I'm just struggling to see positives at the moment. Nothing seems to have changed, we seem to only remain buoyant on the back of capital raising not actual sales. Are we just getting excited by cooked books at the moment? I don't know..."  you have been around in this one a few year i believe there been huge change. yes we have had placements and cr but the company is running at a profit and going though huge expansions, capital is need for that. it cost money for the new factory, buying out Europe, and now looking at buying the mineral deposit, staff on the ground drumming up future business and carry the lag between cost of project to receipt of money. cooked books ? really, if you thinking is along these lines my advise is sell take you profit and sleep easy at night.

to me it seem most holders don't know the full story, yes we share stuff though this forum but how many holders are reading this ? i'm shore with all our research we only now a small part of the story. with all our knowledge and history in the company what seemed to me a simple question i asked the other week about the canal project no one answered except Edsham and he had it wrong, stage 2 wasn't cancelled it's in progress now.  how many people know BHZQ has maintenance contract on the canal until 2035.  personally i'm sure they is a lot more happening in the background that we don't know and we must also understand that the company will not release  ever little detail, so sometime it might seem progress isn't happening behind the scene i they are busy

below is a link to a clip on the web site i found good. might of been played at the agm

http://www.phoslock.com.au/site/media-centre/pet-clips#PBEE

thanks

Mickem