10 times, page-8

Or perhaps your post is being missunderstood and you were saying 4-5 times a 10 bagger

In 5 years the following is possible....net cash flows, being conservative:

$50mil/yr Kingaroy
$75mil/yr Wandoan....given it's a much larger resource
$75mil/yr Vic
$25mil/yr Pakistan...Cougar Aust share....the Pakastan Gov is throwing money towards meeting a deadline 2014 by memory

That's $225mil at say a PE of 10 and we have a MC of 2.25Bil.... 20 bagger :) IMO