Well my other half attended the Conference last night at 'The...

Well my other half attended the Conference last night at 'The Establishment', and here's a little feedback from him:-

Firstly, GL spoke very well.

He said they're predominantly going to be concentrating on proving up new discoveries this year as they have an enormous amount of prospective land & the cash to do this with atm.

They'll be spending ~$10m on exploration and proving up resources & will of course be on the lookout for new discoveries of high grade cu rather than necessarily acquiring, as most of the stuff they've looked at they think is overpriced atm.

My other half said to GL it would be very nice to find 20 CDU's on that land; and GL's response was that it's entirely possible (and he was being serious).

The Company also made mention that it's sp is currently valued just on its cash alone and not any of its projects/tenements or the cashflow from WD, Copperco, etc. - which was hopefully a good message to the market last night.

Interestingly another speaker from Smith Barney Morgan Stanley spoke about where he sees the Australian market heading this year.

He said that Australian Companies have de-leveraged on the value equation so he sees a kick up in the Australian market potentially from around May.

They also see that our currency will drop below parity, and valuations could rise from 11 to 12.5 on the pe scale of things.

He mentioned that there's a lot of money on the sidelines waiting to re-enter the market, and when cash rates fall (as they expect) and the market starts to rise then a lot of cash will come out of homes, Banks, etc and and we'll start to see some traction in the market.

There was also very good attendance from the overall investment community at this Conference.