Sept Quarter, page-9

There is a lot to like about this project. The economics are pretty good too - key concerns - we're heading into wet season and that will slow down construction. Having said that, the company has shown it knows how to build in remote locations. The price:book ratio is significantly higher than one would prefer, and the company's management is a little top heavy. 8 people on the board? that's $10 million market cap per director!

But - even though we're near resistance, I've decided to enter for a small parcel today. I will accumulate with fresh cash into the dips and hold for a few years and see how we go.