hypothetical question, page-50

Hi bigstar
I don't know what parameters you are using but my current YR2017 SP in 2014 money terms is 70c < 72c based on Dalian six month futures which are sliding relentlessly. These now pricing around $117 in six months, which is consistent with 12 month OREX at $112. IMO will be up around $130 in 2017. Expectations of some oversupply thru to mid 2016. When SDL comes on stream in 2017 expected under supply as many green field projects are being put on back burner. 6.6 fold multiple on current SP of 10.5c looks very enticing.