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To: TobagoJack who wrote (59704)	1/30/2005 10:53:10 PM
From: Taikun	Read Replies (1) \| Respond to of 74559

Jay, 1. I have been unable to find anything about this company in terms of shares o/s, etc. 2. The only thing I know is that International Coal Group is run by Wilbur Ross and is the #5 coal play 3. It could be way overvalued but I have a hunch that he has somehow listed and avoided filings by using the pink sheets. 4. Downside is that the assets are overvalued but he is very astute so I don't see much downside there. I suspect he has been putting together his stable of assets (Horizon, etc) along the same lines as what he did at ISG. There are the other downsides for the industry (coal demand )but the Us has quite a bit fo coal in the Appalachians. Other risks might be shipping (this could be a real risk. ie is there enough excess capacity for him to expand, if it is an expansion story). I think this is not and expansion story, though, it is an accumulation of undervalued assets that will be sold to the Russians or Chinese perhaps. I could be wrong. I find it quite incredible that there are no SEC filings. How does that happen? -D

To: TobagoJack who wrote (59704)	1/30/2005 11:36:41 PM
From: RealMuLan	Respond to of 74559

Jay, how do you think of this idea? This guy suggests that China allow RMB and HK$ to exchange 1:1, effectively appreciates 6.1% to US$, and release some pressure from Yuan. news.hexun.com

To: TobagoJack who wrote (59704)	1/30/2005 11:47:34 PM
From: Taikun	Read Replies (1) \| Respond to of 74559

Uranium miner surges on profit January 31, 2005 From: AAP SHARES in uranium miner Energy Resources of Australia rocketed by 18 per cent in early trade today after the company announced a near doubling of net profits for 2004. Energy Resources said sales in 2005 were expected to be at a similar level to 2004. It said reserves at its Ranger mine in the Northern Territory had increased by 5972 tonnes of uranium oxide, and operations at the plant may be extended as a result of this. At 12.24pm AEDT Energy Resources shares were $1.55 or 18.34 per cent higher at $10.00. Energy Resources, which is 68.4 per cent owned by Rio Tinto, reported a net profit of $38.6 million for the 2004 calendar year, off revenue of $240 million. This compared to the $35.3 million profit delivered in 2003 off revenue of $197.3 million. A fully-franked final dividend of 11 cents was declared, taking total dividends for the year to 17 cents, up from 11 cents in 2003. Energy Resources said 5137 tones of uranium oxide was produced in 2004 and 5605 tonnes sold. In 2003 the company produced 5065 tonnes of uranium oxide and sold 5259 tonnes. "The benefit of record annual production from the Ranger mine and improved prices for uranium oxide were partly offset by the impact of the strengthening dollar and increased ongoing operating costs at Ranger," Energy Resources said. It said profitability during the year was positively influenced by the High Court decision in favour of the company after the Australian Taxation Commission appealed a Federal Court finding that could have the effect of reducing Energy Resources's taxable income for 1993. Energy Resources said it also benefited from a reduction in depreciation charges as a consequence of an increase in reserves. Energy Resources said the strengthening dollar, to an average $US71.80 for the year from $US66.60 in 2003, had negatively impacted revenue by about $18 million. The company said 2004 reserves increased by 5972 tonnes of contained uranium oxide. Mining at Ranger is expected to continue until at least 2008 with mill operations to produce uranium oxide continuing until at least 2011.