Hard to price based on future earnings, as they only really performed strongly more recently and there was no forecast projected as you'd expect from this sort of developing company). Future contracts are also entirely uncertain, which makes it difficult to add more than a "sector" premium. If we annualise the last half's results, we're talking about a $1M FY16 NPAT, for a $37M mc @ 3c. That's actually probably cheap compared to some of the rubbish out there that runs to $50M mc on little more than spruiking. Anyhow, I'd been in from a pretty low price, so 'twas enough for me for now.
