Ann: Resubmit - Con Edison Commences DataDot Metals Program, page-11

G'day Mac,

I'm aware of DDT's past, but what, if anything that has to do with its future remains to be seen. They do not appear to be the same company going forward as they were in the past and they seem to be making serious progress in the world's most important markets (the US and China) and also diversifying above and beyond the traditionally disappointing auto markets they have operated in.

Of course it's too early to tell, but I am happy with the progress they are making and the potential they have to be a much more successful, much bigger company than what they are right now.

Having said that, and in response to your warning about investing in DDT, let me say that DDT makes up just 1% in the market value of a portfolio consisting of 42 stocks, so I consider myself to be well positioned to benefit from any upside from the likes of DDT in my portfolio whilst being largely protected from any fallout should things go pear-shaped with the stock. I've learned the hard way previously that the worst thing you can ever do on the Stock Market is put all of your eggs in one basket.

Ultimately time will tell as to whether or not DDT becomes a successful company with a share price to match and healthy dividends to go with it, but I maintain that whilst as you said yourself that DDT's future has always looked bright, IMO it has never looked brighter than what it does now and it's all based on their activities and progress in the US and China above and beyond the automotive industry.

I recognise that results up to this point in time have not been flash, but progress is being made and it is going to take time for that progress to become tangible. I'm prepared to sit on my shareholding for the remainder of the decade because something tells me the wait will be well and truly worth it in the long-term.