Getting back on track

摘要

While one investment adviser has welcomed the results of WMC Resources Ltd's March quarterly it has indicated the miner needs another good quarter before it can be regarded as a non-speculative investment. According to Sydney-based Fat Prophets Mining, although WMC's share price had performed well in response to improving commodity prices, the market remained wary of potential future operational problems culminating in unexpected earnings downgrades and share price weaknesses. Nevertheless Fat Prophets was encouraged by the mining house's March report, saying it indicated that the company's management's would achieve its 2004 production targets.