Ann: AGM Presentation, page-20

Hi All

thanks for all the imput

i think to early to be talking about a downgrade to the forecast as they have just reaffirmed it. in a number of presentations referring to China it has been said over $30m in new business in the first two years. the first year was $11 - $12 million so that leaves over $18m in new business , the confusing part is when i add up the contracts i know it doesn't quite add to over $30m  ( canal stage 1 and 2 appox $10m, plus recent additional $1.5m , then the wetlands $15m plus there was about $1.3m in other contracts so about $28m). i would say the company has more contracts than we know and would not surprise me if they are currently working on these currently in the form of planning, as i image we need to draw up concept plans, budgets etc and submit for final approval before the company releases these to the market. so still more coming

 if the company is saying half of the second half is definite i would say this is mainly for china. if we are doing about $10m this half and half of the remaining half is definite we are tow thirds there, the difference at this stage will mainly be how the rest of the world performs. 

some key points are the supply of materials deal, they know they have heaps of working coming though, that's why they are doing this.  

short term the last couple of months has been costly on paper, but as i have not intention selling any of my remaining shares this fy, i will sit back and wait for the contract news to drive the sp back up to and past our highs

good luck to us all

thanks

Mickem