Just for correction. An earnings per share calculation needs to (by definition) done on earnings, not NPV.
In Y1 that's around 40/50M USD ramping to 160/180M in Y11.
Thus Y1 45M/3.5Bn = .0128. Then PE ratio of 10 = 12.8c (USD) = 16c AUD for 100% ownership.
Y11 175M/3.5Bm = .05. Then PE ratio of 10 = 50c (USD) = 64c AUD for 100% ownership.
Apply a higher PE ratio LYC is around 30/40 figure triples. Use 60% ownership if that's what people beieve the ownership will be in Y1-Y11.
SF2TH
IXR Price at posting:
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