One last evaluation for now, once we get to our target of...

One last evaluation for now, once we get to our target of 8mtpa(with fast tracking this could be under 3 years)

Conservative: (PE of 10 + 3% dilution, $30 profit p/t) = SP of 97.3 cents

Normal: (current FMG PE + no dilution + $44 profit p/t) = SP of $1.47

now add the steel ventures and I think you can see where that famous $1.60 figure might be coming from

anyway I'll be here hopefully holding a very similar number of shares to what I am now when we hit 8mtpa which I think is doable by 2020 if we play our cards right.