wpl presentation implications and euroz report, page-24

re: hooter to hardmano..hooter hooter

My accountant is very conservative and very experienced and a large investor himself with heaps of well-off clients who invest. What he wanted me to have was a defensible rationale for calling some shares in HDR trading stock and not others. Several years back that required putting through some HDR that I had actually held for >12 months as trading stock because I couldn't justify calling them investments (I had not intended to keep them that long but they went down and I held them until the sp recovered). So then my rationale became that I made an investment decision in Janauray last year when Chinguetti was decalred commercial that shares bought around that time were being held long-term for when production started. At the same time I justified this appraoch by adopting a strategy that all "trading" of HDR would be via CFDs and investment would be via personal shares and in the super fund. He's happy with that.

I'm sure we are thinking along similar lines ... I'm just pointing out that you can do it this way.

Cheers

H