I am not a PRC holder myself, but hold NZO and hence have taken some interest along the way.
I am very surprised at so little discussion on the implications of the Australian RsPT.
At best looks like Australian investments in expansion likely to be delayed for more than sixth months, if change og govt at the election.
In the event the Rudd govt is returned that could be well over a year, and in the event some sort of half reasonable new tax get's put in place. Can't see much final commitment to projects until then.
Of course if Rudd wins his war with the mining industry and gets anything resembling Ken Henry's "in another world" tax imposed, then it is goodbye Australian mining boom, hello coking coal price for many many years. Someone should tell Rudd this is not a war one should wish to win.
Every which way it looks good for Pike. Just wish they could get the cash machine working. NZO is waiting.
EL
PRC Price at posting:
79.5¢ Sentiment: LT Buy Disclosure: Held
