Attached to the quarterly report was an update for the 1st...

Attached to the quarterly report was an update for the 1st Quarter of 2012. There was some impressive growth evident across the business throughout the quarter, what stood out to me was

- Arccon's engineering workforce increased from 10 to 50 across the quarter, with further recruitment occuring
- Arccon's current work in progress is $25 mil, but they have preferred contractor status for additional $300 mil
- CIA workforce has increased from 120 to 225, with additional 100 being recruited to fulfil work orders
- Looking like around minimum of $105mil revenue for CIA this financial year, up from $55 mil in 2011

It's clear that Allmine is experiencing incredible growth at the moment, the workforce and order book are swelling. I believe this quarter sets the base for achieving the management forecast of $150 mil revenue, and $16.5 mil in profit for the 2012 financial year. All that on a market cap of $29 million.

It's good to note that the bonding facility they opened up recently will result in the release of $6 mil in contractor retentions - thus providing vital working capital for the business.