I am more optimistic than what I wrote reflects. All I had to do...

I am more optimistic than what I wrote reflects. All I had to do is provide sufficient reason to buy another 10,000 units, and in that respect, good enough is good enough (my version of Occam's Razor).

Other positives are that directors subscribed to the DRP at $1.31 in March, and the NTA is $1.80. Also, I do not expect EPS and DPS to plateau - I expect them to improve.

On the negative side, Linfox moved into WA about two years ago, so KSC will have competition from the second largest trucking company in Australia. KSC is the third largest, and it has been competing with Linfox for decades, so it should handle the situation well.

I think we have about exhausted the KSC story, and time will tell if we are right.

In a way the prospects for NWH have a nexus with those of KSC - NWH builds roads in WA, and KSC drives its trucks over the roads.