bulk test announcement thread, page-55

scanspeak,

Apply 20% discount for Oceanwide offtake
80% x $972M = $778M

I think the 20% discount is way too big, secondly you applied it to all the output.

CDU has option of selling to OW100% or not. Obligation is for 60% min.

I suggest (60% x (1-disc 10%)) + 40% = 94%.

That changes your $2.38 to more like $2.80.

I think the expenses at $20M are way too low since all the drilling of wilgar etc still needed, but then you didn't include depreciation to offset, so basically cancelling each other because they both relate to cash flow, and no net effect on the $2.80.

I think everyone needs to reminded in the plainest words....

Upto $2.38 FULLY FRANKED DIVIDEND PER YEAR FOR EACH OF THE FIRST THREE YEARS - THATS UP TO $8 IN DIVIDENDS.

Of course wilgar and a heap of other things will be occurring during that time. Don't let anyone frighten you out of your shares.