technical thoughts, page-9

I've been in AGO for 2 and a half years. I've added to my position on 4 occasions and today have gone to my bank manager looking for more money to throw at DF and his team.

I believe AGO will consistently continue to post 12 month highs for the rest of this year.

You have to take a minute to realise how much profits are in this company. AGO is currently producing 6mil tonnes at operating profits of around $80-$110 a tonne.

That's a conservative operating profit of $480mil PA! What's the market cap at the mo (with GIR) 2.5bil.... 2.8bil? That's a quality return!

And 6mil tonnes is now.... in less than 2 years it will be double that. 12mil tonnes at even a margin of $70 a tonne equates to $840mil in operating profit! And then it's off to 20mil tonnes by 2014 - or is that more?

The beauty about AGO is that you can do sums like this on their future targets because management is rock solid and they hit their targets.... this builds trust, and that is priceless.

As the market is coming to realise how good this company is it's getting re-valued accordingly.

It's been a buy from me for along time.... and I ain't changing that now.