ARD Price Target FY07: TBA
ARD EPS Estimate FY07: TBA

Monday, January 23, 2006

Q4 Production Estimates
Investor Expectations offer Variations

Without a doubt the single most important piece of information from the Q4 Operational Update will be the total production figures. Nearly every important quarterly figure ranging from revenues to net income is traced back to the Q4 production totals.

Investor sentiment is as follows:





Please note that the consensus estimate of 176,972 includes the estimates of DE, H, MSH and Dok.

I am confident that my estimate will be closest to the actual production totals.