1 billion shares @ 45 cents is half the $900 million they need to get going which leaves a pretty hefty interest bill for the remaining $450 which doesn't make the PE multiples look that good with and EBITDA of $240.....on an unrelated topic the 1983-2003 average iron price was $23 a tonne (?)....what is now $140, $150, $170.... I lose track of these things but the prices of commodities go up and down and feasibility studies are always done will low ball figures......
where is the bottom, page-8
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