Updated my EPS model for GBG with the following:
Iron Ore Price: $150.25
Exchange Rate: $1.0473
Production: 8mtpa Magnetite, 2mtpa DSO.
Shares on Issue: 1,490,000,000 (assumes Ansteel gets issued shares)
Huge amount of other factors, but these are the key ones.
EPS $0.114
** Note EPS increases to $0.121 if Ansteel gets no shares and no additional capital raised **
(so this is a big DEAL given we are now a penny dread trader, could easily add 4-7 cents on our shareprice on an EPS basis).
Estimated NPAT for JV: $340m, so GBG is entitled to $170m.
I hope the current Iron Ore price holds.
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