chart, page-2

look at fundamentals now after the report, more important than anything including the chart (altho the chart may point to where its heading in terms of major supports and resistance levels)

Look they made 12cps and said next half will be the same.....so 25 cents per share EPS

Give a PE 7 and you get $1.75

Next year in 2009/10 the forecast is for 33 cents, so PE 7 is 2.31

next year may be better bcoz the hedge book is being run down now so that they can get the spot prices next year. Also export volumes may increase next year as long as demand stays as is or gets better than now

So im taking 33 cents per share for nextr year and assigning a PE 7 to it and we get $2.31

Right now its worth between $1.75 to $2.00 on PEs of 7 and 8 respectively; Next year $2.30

So somewhere in the middle between $1.75 to $2.30 is $2.025

So its roughly worth $2.00, on forward PEs of 7, with downside to $1.75