Forum Archive Index - April 2004

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

Lucky guess things were going a bit dog with AUO. I had read an article on the internet that they were experiencing delays with the start up of mining the new panel. AUO had said last year  they would have started mining the new panel in March so they had to make an announcement sooner rather than later.The share split and increase in royalties by NSW goverment I had no idea about.

 I sold the bulk of my holding between 0.70 and 0.75 cents but was still holding 100k when the trading halt was announced. Sold the last today at 0.58, luckily I brought them between 0.45 and 0.52. Still don't like giving profits back to the market.

 When you look at the AUO chart prior to the trading halt, it is rather obvious there was a few people around that had information that wasn't available to the general public. But AUO isn't the first share to trade like this prior to a bad news trading halt and won't be the last.

 I will look at buying back into AUO if the shares trade at  0.50 after the share split. But I would be looking at getting out when they announce they have started mining the new panel. After all the diluting of the shares AUO have done in the last few months I wouldn't expect them to trade any higher than the late 0.60 for a while.

 I'm leaving the money I had in AUO in mining related stocks,have brought into TTR 0.27-0.33,MAH 0.30 and FXR 0.58-0.60. Still looking for a few more to investigate for the long or short term, think metal prices will make another run sometime this year. Anyone got any other mining shares in there little black book that are easily tradeable in volumes of at least AU$10k?