with all the R&D write downs, come end of financial year i think they will get close to $2 million back from the ATO.
if they settle the south african dispute that is another $1 million.
worst case scenario, a 1/1 rights issue at 2c would bring $3 million into the kitty - they only have 150 million shares outstanding at present.
so it isnt all over red rover yet!
im frustrated with the board because i think they could definately be doing a better job of promoting the company in a favourable light. shareholder communication is attrocious. read ian allens address from last years AGM - none of that information has been expanded upon.
having said that i do support the boards efforts to batten down the hatches and cut costs in this hostile environment. an update on the concrete & explosive projects would be welcome.
they do have a lot of strings to their bow, for me the csiro's involvment is testament to the quality of their intellectual property.
think a bigger game is on here, time will tell.
DDT Price at posting:
1.9¢ Sentiment: None Disclosure: Held
