Recovey, page-34

So back of the envelope calculations per lb: Zinc Price USD 112c
C3 Costs  USD 50c
EBIT 62c
Interest (10% on $50m say)    1c
Tax @ 30%   18c
NPAT   USD 43c
NPAT AUD@72c 59c
   
x 260,000,oookg x 2.2 (convert from lb)

= $337.4m NPAT AUD fully diluted over 620m shares
= 54c eps in aud or currently a pe of just over 2

PE of 5 = $2.50 per share, share price
PE of 10 = $5.00 per share, share price

These numbers assume an up and running steady state operation assuming all goes well and recoveries as expected, so ignore ramp ups etc.  A rough double check against the feasibility study gives me confidence these numbers  are in the ballpark even if I have left something out. That looks cheap to me, even allowing for cost overruns. Even falling to AUD$1 per lb the numbers still look good - see below.  Nevertheless DYOR.