result disappointing, page-7

In reply to posts on AUo on 17/3/04.

This stock is covered by Wilson HTM, and Huntley's small companies guide.

Huntley's suggest the stock could quickly move to $1.

Production expected to increase once the new longwall is completed in May, slight delay in installation.

Port Kembla still has excess capacity so infrastructure is no constraint to aditional output, unlike the Port of Newcastle, and the temporary retraints at Darymple Bay in Queensland.

I hear that the Japanese steel mills are in short supply of hard coking coal (the type AUO produces), because Chinese have cut back exports, and there's insufficient supply at present into Japan to match the rise in steel production. Could get quite interesting in near future.

Broker estimates two years out have cash flow estimates for AUO at around 45 cents per share. Hope this comes true!!

Best of luck.

TDF