Research Note, page-4

Sorry Edshann but I reckon your logic makes less sense than Harley’s. So you think Valmec will make more than 1.5x the NPAT than Hartley do, but then apply a 50% discount to ASX Small Industrials average because it doesn’t pay a dividend coming up with not a number but a determination that Hartley guidance is wrong.
The only reason the share price won’t rise to Hartley valuation is because of lack of liquidity, not lack of a dividend.
As for owning compressors, I can’t imagine Valmec would do this on its own given its association with Exterran.
It’s an American concept that Australia needs to embrace to get smaller projects moving but I don’t see Valmec being that catalyst.
I tend to agree that perhaps they need to make more announcements, but if the share price continues to move at the same rate it has in the past 6 months, then I’m not complaining.
On a side note did anyone attend the AGM? I know a presentation was given but did they give anymore guidance as to how they are tracking?