Shot a hole in your number?
'>>..My calc shows them to be worth 70 cents a share if their EBITDA drops to $1b pa which it will ,if prices hold at $ 90 a tonnes..."
no need to shoot a hole as it doesn't even make sense, at 70cts a share the market cap with be 2.1b. If the EBIDTA sits at 1b, the the PE ratio is an amazing 2.1!
If you had done some homework and reading, u may have noted that landed costs for FMG on record, yes on public record, enforceable by ASIC is 50/t with some $18 in tax and depreciation, depreciation is an accounting cost and tax would proportionately decrease with less profit..so if IO sits at 90, I don't believe there is an issue.if IO hits $70, then I'll start losing some sleep....so there, eat your heart out
FMG Price at posting:
$3.54 Sentiment: Hold Disclosure: Held
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