With PPT within a bees of no longer being substantial, SHJ should be looking to move forward quite rapidly soon.
Even the doomsdayers are predicting a $19M Net half year or 11c EPS - this is a Divi of over 4c
Ignoring the fact that the reconfirmed advise from SHJ has the returns coming in higher min gross of $36M EBIT. less $5m = 31 X.7 = roughly $22m Net or 12.5c EPS - this is a divi of closer to 5c
Shine has not been acquiring ( little room for future goodwill write offs)
Shines reserves are full , in fact they're over full in my opinion, and will need to be revised down releasing pure profit.
Thus this half years $19-20M results, should become the norm with a return to annualised profits of $35-$40M Net or 21.6c EPS (midpoint) which equates to 8.6c Divi and 13c or $22.5M retained profit, increasing the Equity value further Or providing additional acquisition funding without the need for credit,
Once more ignoring all of the mistakes, BS , doomsday crap etc etc the company has doubled its equity value in 4 years.
It has regularly paid a dividend.
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So why is shine at a multiple of a third of the general market, and showing an enterprise value well below half ?????
It will not stay at 57.5 for long, and even if rabbits try to push it down it will bounce very high IMO. Express train to mid 70 , even 80s is coming. All aboard.
