As Jeffd has said, something is cooking. Although AUO issued a profit warning Morgans & co. are still buying. Should be over 10% by now. Reports I have read indicate massive coal price increases on the table, most are talking $138 per tonne. Compare this to $60 a tonne (approx) last year and you can see why the insto's are still interested. Maybe also someone building a large stake in the company. I wouldn't be surprised to see a takeover coming early next year.
AUO
austral coal limited
