This stock is one that David Haselhurst (the Speculator) waxed...

This stock is one that David Haselhurst (the Speculator) waxed lyrical about in November 2008 when he added more ETC to his August 2008 portfolio purchase (www.money.ninemsn.com/article.aspx?id=667772). He remained impressed with it when he carried it over into his 2009 portfolio (only one of 4 to do so).

Since then, ETC has been been derisked in a major way, as today's announcement - (www.asx.com.au/asxpdf/20090518/pdf/31hmxgj61qct3g.pdf)- confirms the China National Gas Tank project has kicked off, is likely to deliver AU$20M this 2008-09 FY and reaffirmed their AU$48M NPAT forecast for 2008-09.

With this latest NPAT estimate, I would expect a significant rerating of ETC once the news filters through to the wider market. And I would expect the Speculator to give ETC a boost in the near term when he updates his portfolio value to reflect today's announcement. Given he has a solid band of followers, I would expect any update to give rise to a new wave of buying interest.