Full Year Update due August 10th and other ramblings, page-2

Hi Lost

A good post

Although on the mend, I don't think industry conditions have improved enough to give a better than forecast geotechnical result.

The AUD depreciation against the USD will also adversely effect the valuation of the borrowings. I am not sure why they locked into USD. Presume it was the better interest rate or maybe a prerequisite for the US foreign aid projects.

So my expectations are on the lower end of the forecast range. I think we have another 12-18 months before the share price starts to re-rate, but coming off a very low base the potential rewards are still there.

Regards

Westwind