theres a post on ozestock which has mirorred what ive been...

theres a post on ozestock which has mirorred what ive been saying about the revaluations and stuff like that. it makes sense. If he/she is right, then we can only conclude that the 17c dividend will again be comprised up of mainly tax-deffered gains - ie they will be using the DRP and a drawdown of cash to fund the divvie.

Just on the IFRS standards, i think we can get a big clue from page 3 of today's Appendix 4D:

"The MAG consolidated result for the period 5 May to 30 June 2004 included in the MAp Interim Financial Report for the period ended 30 June 2004, applying MAp’s accounting policies, is $71.5 million.**

The MAG consolidated result from 5 May to 30 June 2004, applying MAG’s accounting policies, was a loss of €3.3 million***."
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ie MAG uses IFRS standards (because it is a European company) and according to IFRS, it lost 3.3m Euro in that 1 month period. However, when MAp translates this back to Australia using AASB, it comes up with positive $71.5m..... If anything, it shows us what d0pes accountants are....

Anyway, agree with Goblin's assessment that here or low 240s is a good profit taking point.