Maverick, thanks for this summary - and agree with your conclusions.
Not been to the meeting myself (wrong town ...), but I agree - the presentation did well explain the reasons for the increased cost ... and why we should not worry about it in the long term. Sounds like a sound investment.
At a SP of $1.01 stands this share in my books at a forward PE of 10.1 and an EPS CAGR of 26. Juicy, though patience might be required ...
Discl: holding (lots).