next stop 80cents loyal share holders, page-8

pe ratios can sometimes be useless but in a bear market, companies are valued on earnings. If that was not the case then bhp would be $50, furthermore I have a price target of bhp of around $25 because earnings will fall.

The same reasoning for ozl, you cant use historic or future earnings because we are in the middle of a commodities crash. It may be short lived or it could last 8 years or more. Copper will fall back to around 4500 per ton at the very most it should be around 5000 per ton by xmas.
Iron ore and coal will be the next victims, maybe not coking coal becaue of the shortage of that type. Zinc should keep falling back to 1500, this will hurt most medium sized producers, and bhp is not immune.
The difference between the big animal and the small, one more meat, the pain is still the same.