Target $4.61, page-44

I have a good size holding here and average down sometime ago.

2 days ago I decided to top slice , having been burn't time and time again with so many stocks over years, the old adage " its better to travel than arrive " persuaded me to sell a lump at $1.83, not because I had feeling of any bad news but just there would be profit taking regardless.

Anyway today I purchased the same stock back just now for $1.50, reason for purchase was based on the following :

1. As usual the market reaction to production downgrade at Narrabri seams ( pardon the pun ) way too much .

2. Coal prices are at good level for WHC profit

3. Good news about the loader coming on stream quicker than forecast.

4. With all the QE and likely economic recovery will likely lead to increased demand for coal etc

5. I have also reduced holdings elsewhere to go into quality gold producers like EVE and NST as hedge against inevitable inflation fallout .