re: bullish, page-24

re: bullish Sorry Winter I didn't understand the circumstances completely.

You are right about this being a $2 stock. The valuation still stands at $2 with a 12 month price target of $1.

"The company is the fourth largest copper producer in Australia. A strong balance sheet with an ungeared balance sheet. Other key fundamentals include a strong Board and management, minimal hedging in FY09. The company has key long term copper concentrate offtake contracts with Hindalco for LOM, a 50% dividend payout ratio with the financial capacity to grow via acquisition. The company declared its initial dividend in FY08. The company is well positioned to grow strongly in coming years

The copper price has fallen sharply since early October, from near record levels. The sharp and sudden fall in the copper price has been quickly reflected in weaker share prices. We are expecting that copper prices will remain relatively weak in the near term but will recover within 12 months There is upward pressure on operating costs but the strong relationship with the major shareholder will provide financial strength during a diffciult period."