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wdurham - Wed, 31 Dec 03 :

Count - three months ago, it WAS a cheap company with massive prospects.

The massive prospects are still there, but the company no longer seems cheap, bearing in mind its current small revenue stream. Until contracts and revenue start to flow consistently, it is impossible to gauge a reasonable price for the stock, but there is now a certain amount of expectation in the price, in my opinion.

However, it's also my opinion that any expectation will be justified as the next year unfolds. "Potential" doesn't guarantee profits, but the technology and the material appear to have the capacity to fulfil a huge number of roles. Success in just one or two applications over and above the existing licences will bring home the bacon - particularly as TDM are currently achieving a relatively high royalty rate of 10%, in addition to some up-front payments. The marine hull market in particular seems a natural for this new material, but the proof of that pudding will come when Dixon completes his prototype next year.

There are interesting times ahead for those prepared to gamble that the TDM technology IS a worldbeater.


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