it will be $30 in 6 months-imo, page-22

Why present your full year results two minutes prior to market close and let the match up decide if its good or bad. Big mistake-they had not done it that way before and won't even again. Usually its presented well before market open.

In fact, I think I recall recently BHP was of the view that the release of results timing was to alternate between the FTSE and ASX, so as to be fair to both sets of markets. Somebody form BHP (a non trader obviously)may have considered it would go into pre-open and then the market would close. Total disaster the way it was done and not a reflection of the worth of the results or this company.

Managers who trade and should not be....would have looked for and not seen a capital return. Why would you expect a return when the company has just spent $15 billion on the Western Mining acquisition and a never before seen capital roll out. One brokerage house who never gets in right, came out in the last few days and suggested a capital return. So because of that, what do the trigger happy traders do- oh lets sell anyway.

That big gap down is just too much for FTSE traders, and we are seeing a typical resullt over there where people cannot think for themselves.

How cheap is it. Closed with a market cap of $73 million. So on a PE of 8.

PE of 8 sounds like a mature company with little growth prospects. In the case of BHP, their revenues increased by almost 90%, yet price rises for the bulk (iron ore/coal) only came into effect for the June 1/4. Additionally their best production increases came late in the year. (In total overall production increases of 33% for the year). Not exactly a non growth story.

The only good thing today was that "the strëet" got the profit figure correct.(Don't even mention that program trading earlier in the day). That means sooner or later, probably within the next couple of months, they will work out 2005/6 profits will be in the order of $13 billion...and a present year PE for the company of about 6.