webzone10, more than just wondering what the 'super profits tax'...

webzone10, more than just wondering what the 'super profits tax' will have on Kanmantoo - I wonder (and fear) what it will do the Australian economy in general. Pure socialist nonsense - very dangerous Mr Rudd. Remember we all can thank our resource sector for our national prosperity - not the politicians (who actually produce nothing).

BTW this talk of 'normal rate of return' and profits above a certain level are all misleading - this tax is simply 40% on all profits. not on super profits, etc.

Of the many unintended conseqences of this ill-concieved virtual partial-nationisation of resource companies is that the resource companies that still bother with Australia will probably find it even most cost effective to ship raw material OS for further processing - thus depriving Australian's of potential value-adding job prospects.

I wish our spineless media would understand what this expropriation of profits will do to our important resources industry.


Also, getting to the reason I actually started this post...
I think the management at HGO are in fact very deliberate and careful in their actions rather than simply 'slow' or incompetent.

Also (for whoever suggested it) I do not believe Evans and Partners are selling out. They have a price target of around 70cps for HGO and recently re-affirmed a 'positive' rating for HGO.

I added a few more today. I think the effect of ESG (all CSG companies are being hit hard by our moronic comrade Rudd's).

Cheers all - best of luck.
Ben