Ann: Half Yearly Report and Accounts , page-10

I'm sorry Persistentone although I cannot help you with a current valuation. I've written this year off from an earnings perspective and am looking from 2013 onwards.

If the company can get Henderson running at capacity and if they can secure a more regular supply of orders (similar to the contract they recently signed with a European equipment supplier) and if they can consequently expand their service division whilst building and developing the other segments of the company I honestly see this becoming one of Australia's great manufacturing companies and worth considerably more than it is now.

You'll note that there are 3 big ifs in my previous paragraph so time will tell.

The Non Executive Director Paul Wright selling a million shares recently looked very ugly so who knows what is going on? Aaron Begley has been poor in communicating past problems to shareholders and this is my biggest reservation about the company.