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Strategies & Market Trends : Australian Shares and ADRs
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To: teevee who wrote (43)5/23/1998 9:25:00 PM
From: Moominoid  Read Replies (1) of 96
 
Hi,
The Australian ADR I particularily like and own is Wetern Mining Corp. The symbol on New York is
WMC. Given the expansion at Oympic dam, its fertilizer project and expansion at Alcoa, this company
should double revenues over the next 24 months while maintaining conservative gearing. It appears to
be well positioned to take advantage of the economic recovery in SE Asia. This company pays a
dividend, and offers trading opportunities as it is a "cyclical" stock.
teevee

You'll see my previous comments on Aussie mining stocks on this thread. WMC is one of the top ten stocks on the ASX so is a safer bet than some. I don't know anything specific about WMC except that the chairman or CEO (can't remember which he is) Hugh Morgan is an idiot - he wants to take Australia back to the 1950s - he said so - he makes a lot of political interventions. Of the three in the top ten: BHP, WMC, and Rio Tinto, I'd choose Rio Tinto because they are jointly Oz/UK based and I think the best managed. Santos looks best overall as I said on the thread previously.

Despite what people in the US seem to think, the Asian crisis is not going away in the next year. This is the great depression or the collapse of Eastern Europe/USSR. That's the time scale to think about. The Japanese economy won't go anywhere in a hurry. China may well devalue too. Once the US hits recession with UK probably leading the way mineral prices will continue depressed.

David
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