Ann: Half Year Report FY24 (including Annexure 4D), page-5

Couple of ways to calculate from page 33 of report EPS was AU $ 0.0422 If you assume that falling prices will only have minor improvement in this number for year then lets say yearly profit of 0.10 right now a company with falling YPU revenue and profits selfdoms has a PE of 20 so that would give a SP of $2.00. Or you could use TMM profits which would be 2023 yearly profit $0. 345 - H1 2023 $0.1660 + H1 2024 0.0422= 0.222. times a PE of 20 = $4.40 . Unfortunately I do not figure H2 24 will be nearly as good as H2 of 2023. JMO with book to bill delay and current NdPrO prices. JMO AU $4.00 ~ 5.00 will be price till AR but AR will drop this unless it is substantially beater than $0.20.

I will admit this is totally focused on profits but that is the only thing that grows a company and SP will never be bigger than growth rate long term.