If we can achieve 8mtpa by 2022 and have no further dilution in addition to no debt, as I posted yesterday a PE ratio of 5 would justify a share price of +50c. Then if you take into account the steel JV, you could possibly add another 20-50c depending on its size.
Obviously a billion hurdles to overcome between now and 2022, plus there are heaps of variables that could change in Australia, India and globally.
A PE ratio of 10 or more could double those numbers... It all depends on derisking and progress.
Right now I am happy with 5c by Christmas and 10c by the next Christmas.
Exciting to see what happens with the Chinese.
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