"Since balance date Argo has spent about $72 million on
investment purchases, the larger ones being in BHP Billiton, Rio
Tinto, Woodside Petroleum, Alumina, Toll Holdings and Woolworths."
Cant argue with that.
They are raising $400 million to take advantage of market volatility and a stated objective to increase holdings in diversified miners.
PS. I never thought I'd live to see an actual post on the ARG forum !