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Last years earnings 80mil+ aud, this years should be about 110...

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    Last years earnings 80mil+ aud, this years should be about 110 to 120mil aud.

    next year, provided no big depression, only a normal one. 25% cmsb stake, tax issues sorted out, 25% increase in production.

    earnings should be in the range of 200 to 300mil aud.

    a nice upward trajectory

    even if there is a huge depression next year. Hard to see ferroalloy prices coming down. Unless thermal coal and natural gas makes an 80% drop.

    even then, the low prices take time to float through. Once recovery comes back in commodity prices will move right back up.
 
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