At 40mill prod, you get 2billion cash flow pre tax n depr.Again...

At 40mill prod, you get 2billion cash flow pre tax n depr.

Again we r using an IO price of $100 and costs avg $50/tonne.

tax incl MMRT CAPEX deductions of say avg 30% = cash flow post tax of $1.4bill

Say we have a share base of circa 1.3bill for the 40mtpa production

So Cash flow per share post tax = 1.4bill/1.3bill = $1.08 per share; Give PE 10, and you get $10.80 per share

Its a NO BRAINER, even if you increase the tax to 40%, you get an EPS or cash flow post tax per share of circa $1.00 or $10.00 a share

They have CASH thats growing and theyll issue maybe 200- 300mill shares .

40mtpa has a price tag of $10.00 a share, plus divvys, NO DEBT! all assummed at IOn price $100 long term.