Ann: Project Update, page-32

yeh me too. average it out, $35m a year for ten years, then give it a really modest PE just in case they dont pick up Yanqul or other copper assets.
What's the worst PE you could give a profitable miner? 5? The sector average is around 16.
Even at 5, and assuming dilution for $2m, we're talking about a possible 25c price target over the coming years. Of course, we are possibly going to see at least another 70-200m shares issued over that period for further acquisitions, so scale that target back to around 19c at the high end, but the long term growth prospects from these add-on projects should keep things growing for a good while yet.

i think what the market sees right now is a kid driving an old Honda Civic around a paddock.
What I see is a kid who has been told by Mclaren that if he can master the Civic then they'll let him join the racing team.