pfs calcs $150million profit/yr amazing eps!, page-33

Nectar, just saying this company is worth buying because it is going to make 100m/year doesn't mean much. The capital required is enormous and the returns are low. What is more impressive? A company with market cap of 100m making 100m/year or the 400m company making the same amount?

The only accurate way to know where this pre-feas stands is to compare it to peers. Below is a list from outstanding to crap. I focus a lot on IRR because it shows the quality of each project... and of course the capex required due to tight capital markets.

Outstanding
MSR
http://hotcopper.com.au/announcements.asp?id=414718

Good
DRM
http://hotcopper.com.au/announcements.asp?id=454171

Average
MYG
http://hotcopper.com.au/announcements.asp?id=445965

Crap
AZM
http://hotcopper.com.au/announcements.asp?id=464465