A billion reasons to smile!, page-6

Not wanting to be accused of hype, here are a series of valuations done using the FastMarkets forecasts of a long-term average billet price over the period from 2019 to 2030 ofUS$476/t- a conservativeestimate.  The valuations include a CI already, you will see I have allocated them 125m shares, the valuations are for 3 different possible equity raises: 60c equity raise; 30c equity raise; and a 15c equity raise.  I don't for a moment think a 15c equity raise is likely, however I would hate to be accused of hype so I have included it as well.  You can make you own mind up about the likelihood of any of these outcomes, of course it does show the potential earnings capacity even at conservative estimates of the price of billet p/t.  Good luck to all who hold.