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Shiraz to keep, shares to sell?

For some reason or other I haven’t been able to escape the Shiraz Viognier of Clonakilla over the past two weeks, enjoying on entirely separate occasions the vintages of 2001 (twice), 1998 (twice) and 1997. Each of these vintages is world class, 1998 and 2001 especially, and underlines just how much potential there must be across Australia for these two varieties to work well together on well-exposed warmer sites in cooler regions. The essentially drier, more savoury nature and tighter focus of these wines in no way impairs their ability to deliver very intense flavours, while their excellent balance and tightly-knit tannin structures will ensure their longevity. I have no doubt that viognier has the potential to take many existing Australian shirazes to a new quality level, and that there must be many other unplanted sites on which other such wines of excellence could be made. On a business note, the Bloomberg website reports that shares of McGuigan Simeon Wines Ltd have hit a six-month high based on speculation at E&J Gallo, the world’s second-largest wine producer and its joint venture partner might be about to launch a take-over bid. The company’s share price has increased by more than 18% over the past month on the ASX to $4.72 at the close of trading today.

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