I'm thinking around the 40 cent mark. A little lower than what...

I guess moreso odd in terms of the promised "El Niño" but now the papers are saying 50% of "El Niño" aren't the typical hot dry that we have become familiary with in the years prior. Not fussed though, management gave a nice guidance on production and all looks to be going to plan so far.

I'm thinking around the 40 cent mark. A little lower than what you had in mind but the reason being is that winter isn't expected to be too tough so the prices won't get as heady as they did previously. (Should they in the upcoming month or so then it will be higher) They'll have plenty of cash left over but I suspect they'll want some cash left on hand for potential M&A given David's comments. Granted I'm happy to be conservative and left with more cash, either way I expect a nice increase from here given their production.