Copiicat and I went to the WAA AGM yesterday. Geoff Wilson gave...

Copiicat and I went to the WAA AGM yesterday. Geoff Wilson gave a good presentation on the company's performance and future direction. The directors see a lot of trading opportunities in resource stocks, and said that China's growth is no longer dependant on America's consumption of its goods. In fact, director Chris Cuffe spent 3 months there on a study tour, and felt that China is no longer manufacturing "junk" items, and cannot be considered an "emerging" economy. Chris stated that China is now an established economy, the world's 2nd biggest. As such, they will, at some point, float their currency (they're currently linked to the US$, to their disadvantage).

I asked a question about Uranium. Director Matthew Kidman said that the Federal Labor government will eventually remove all restrictions on exploration, mining and exports, although this will take time. He said it was inevitable, as the world moves towards cleaner energy sources.

WAA shares are currently trading at a 30% discount to their NTA value. I hold 10000+.