quick and dirty back of an envelope, excluding copper project.
14 million EBITDA, - 3 million for costs, tax, debt financing etc.
11 million in the bank p/a = 0.027 EPS
= P/E ratio of 2.
Industry very low side multiplier should be around 10, suggesting that the price should track up towards 0.25c once construction commences.p/a
Ann: Favourable First Instance Decision in TEPP Legal Proceedings, page-8
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