options vs fps, page-12

"huh?? PE less than 1????

PE is calculated on profite divided by shares issued, not market cap.

Market cap of $48 million and share price of 2.8 cents means about 1.7 BILLION shares on issue. "

PE is a multiple of earnings. If Range were to earn $56m profit as you say then on a PE of 20 as you suggest the maket cap of Range should be $1.12b or using 3b shares (assuming option dilution) the 'Price' from the PE equation would be around 35-40c per share.

This could also be back calculated by taking EPS (56m of earning divided by 3b shares = 1.86c per share) and then applying your suggested PE multiple of 20x to get 37c per share.

I'll be more than happy with that.

All academic as Range will not make $56m but your posts are misleading.