update on flooding, page-97

Hi MarkieMills,

I am surprised to see you shorting this one when I am buying it as a value stock. We usually come across each other going in the same direction. Regis's profit last year was $145.7m and as mentioned in the other posts, at least one broker is tipping profits of $190m once the flood problems have gone. The current market cap at share price of $1.56 is $780 million so we are looking at potential PE's of 5.4 to 4.1 if those figures return.

One negative though for this company over the next month is tax loss selling. It has fallen from $4.30 to $1.56 in nine months and there will be plenty of shareholders wanting to take those losses from their tax.

But long term, I think this is one of the safest of the gold stocks with its low production cost and to me, it seems a bargain.

I bought more today at $1.60 in the open and tried to buy some more at $1.44 but missed it.

GPASAS