GCL gloucester coal ltd

Considering:1. 10% buyback over next 12 months2. 30c div or so...

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    Considering:

    1. 10% buyback over next 12 months

    2. 30c div or so next 12 months

    3. FY06 EPS of around 90c (ABN Amro estimate)

    4. Possible reserve upgrades (well I'm hopeful)

    I see little downside and pretty good upside going forward. Of course a market correction/crash will stuff that logic up

    cheers
    Mark
 
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