Too right, D1 has plenty of newsflow up its sleeve for 2005 (as hinted at in the 19th Nov statement).
Anyways, I've been investigating this court case deramp. It turns out that D1 are barely involved at all - in reality they are merely named in the suit because they are a CUSTOMER of the accused, whilst the accused is not honouring obligations to a 3rd party. The accused supplies parts for D1's mobile refineries which presumably are easily sourced elsewhere.
As for the dodgy record of Just2Clicks - clearly indefensible, along with everyone else. Basically I go with the entrepreneur argument - you win some, you lose some. This one is the winner imho.
To reiterate my earlier piece - D1 is superior to Biofuels because it owns the bottleneck in the bio-diesel chain - i.e. the raw material vegetable oil. The 'proprietary' seeds and compost etc is basically a first-mover advantage, nothing more, but the 1 or 2 years this buys D1 is being exploited brilliantly to sign options over vast swathes of land WORLDWIDE - as evidenced by a 33% increase in options with the 2m hectares in China.
In addition, the announcement on 19th Nov included the crucial information that the plants generate oil 6 months ahead of previous estimates (of course they knew that before the IPO). However, recalculating my earlier valuation yields a 25% increase in valuation to 185m vs 150m previously. The other way of looking at it is valuation/hectare. Previously 5 quid/hectare, you can now buy these future oil fields for less than 4 quid/hectare.
In sum, D1 has virtually no success built into the valuation. This seems absurd when the oil majors are investing 10s of millions into environmentally friendly solutions. Biofuels only does refining, whereas D1 refines + grows oil - i.e. you're getting far more for your money. One of the stocks of 2005.
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