Hi balmersdogT4P will no doubt give an answer ... but I will add...

Hi balmersdog

T4P will no doubt give an answer ... but I will add my 2 cents worth!

*Great defensive stock
*Yet has explosive potential with a very tight register!
*Two great coal mines with valuable infrastructure, with one restarting production in 2007 & the other in early 2008
*Oppies have a nice discount to then ATM

Remember though the oppies expire in December this year ... hence the discount as some holders take their cash now ... once they are gone it will be a different ballgame!

Worth a look at .. T4P has some great figures on the discount nature of the current SP

All the best