What is happening, page-6

The production numbers are readily available but the prices they sell the product for is a mysterious secret.

I won't share my numbers because there is too much guess work.

You can get an indication of whats likely from the research that Morgans issued after the Sept Q update

Morgans forecast nett profit for the Dec 17 year of 8.5c per share and a target price of 94c.

Their forecast nett profit rises to 25.6 cents per share in 18 and a whopping 40c a share in 19.

Cash flow should be well above Profit now the development is finished and the $650m of assets are being depreciated.

The nett asset backing based on discounted cash flow assuming long term price forecasts was $3 a share at Dec 16. The rights issue diluted that to $1.85.

Makes them still look attractive at the current price.