npat up 250%, page-6

If they hit even 13 million the company is trading on a P/E of 6 after dilution. The projects are delayed not cancelled (completely different things). Next year should be a ripper as long as China doesn't collapse (in that case EVERY mining and mining services company and even the australian economy will be in the gutter for the year). The relationship with the Chinese banks will continue to provide a long term competitive (as their favoured EPC contractor, any loan from the banks at low interest rates comes conditional that they use AZG to reduce contractor risk).

Not worried at all, might be worried if the profit is downgraded to 10 million or below, or if the relationship with the Chinese banks sours, until then, just holding on until the inevitable overreaction finishes.

JM.