Ann: Results of Annual General Meeting, page-11

Actually have you looked at the fact that because of the accounting treatment the accounting profits vary wildly each year as it is determined by a mark to market of hedge and actual contracts.

So if its such a buy how come we have what is a substantial profit downgrade.

So the market is wrong - they just decided it was worth around 24% less at the AGM.

The IPO price if I recall was $1.65 in 2010.

Sorry but last week seemed to indicate that earnings are not going to hold to 2015 now that the range is $80m to $94m. with such a range even putting it in middle doesnt do anything but lower 2016 from 2015.

Of course Commsec's numbers are what they are it appears 2015 is high water mark