Forum Archive Index - January 2004

["David & Jill Stevenson" <djstevo@quicksilver.net.nz>]

Thanks I realised I omitted SOH after posting..  GPG ( 1/9/03)  notified ASX they had increased their holding to 47 million shares (18.75%)  At 10/10 Challenger Financial Services advised holding 19 million shares (7.56%)  At 24/6 MYOB Ltd advised holding 32 million shares (12.74%)  There was a doubling of share price in the early April `03 to November `03 period.

    Another interest GPG has in Australia is in nickel producer HBR . On 16/1/04 record production was reported at their Mt Keith nickel mine. This advice to the ASX followed the previous quarter notifying  Q/E 30/9 record production. GPG interest in HBR is relatively small but bearing in mind that HBR share price moved from a May `03 low of 30 cents (when I think GPG bought in) to a December high of 65 cents shows that almost all GPG Australian portfolio investments moved up significantly last year . They don`t appear to be making too many mistakes. Their NZ successes are a little harder to read. Tower in slimmed down form must be an eventual take over target in  the philosophy of a shrinking competitor market.  Although substantial advertising commitment appears to be a necessary ingredient. Whether RAC in Australia may be some sort of a catalyst, who knows ? 

    Turners Auction spin off  was profitable to GPG  and produced some exit cash flow that will cushion the ENZA  funds lock up while it finds it`s feet in a foreign exchange dictated market as well as Australian Apple Growing Marketing Authorities blockading our apples into their market to protect their producers .Rubicon and FFS

have also proved longer term holdings than GPG would have wanted but there is no noticeable overall risk factor to them while the dust settles.

 

                                           David Stevenson