Forum Archive Index - December 2003

["SJ.Greaves" <SJ.Greaves@xtra.co.nz>]

I haven't changed my opinion on AUO trading above a dollar sometime next year. My reasons remain the same as I mentioned a few weeks ago. AUO made an announcement on 26/11 that they have 130 million hedged at US.664 and they have signed further contracts to sell coal next year at a healthy increase to the current price. You can get this data and the quarterly reports as soon as they are released to the market on the ASX web site.

 I wouldn't be surprised if the share price did see 70 cents again. Westpac sold off 2 batches of 2 million shares recently which along with the general market down turn was proberly responsible for the resent dip in share price. Westpac still own 9 million shares which they may decide to continue reducing.

 Next year should be a good year for resourse stocks in general. Companies involved in coking coal and nickle mining in my opinion should do the best.