annual report

Annual report is out.

Also, Comsec now has two Analyst forecasts on the web site. One is RBC Capital (this is not new), the new one is EL & C Baillieu Stockbroking.

One says hold, the other says moderate buy.
Median predictions for FY 2007 are PE of 13.2, falling to PE 10.2 for FY 2008

One small thing I found interesting in the Annual Report is that Bemax received awards for the on time, under budget Ginkgo mine development, which is impressive at the current time of over time over budget - resource shortage affected market reports.

While the analysts apply risk weighted discounts to their price targets, I think Bemax may surprise on the upside given their management skills.

DYOR