Another day another 52 week high, page-6

I like these parts of this article in particular...

"Of note, the capital expenditure requirement of $160m is lower than the original estimate of $175-200m provided last November. Practical completion is expected by mid 2017 for both sites."

"Credit Suisse lauds the reduction in capex estimates as it decreases the full fit-out capital base by 8.0% and allows a comparable return with a lower price. The likelihood of a further equity raising is also reduced for future expansions."

"Credit Suisse expects the company to build its Sydney extension in FY18 and now estimates this will only require additional capital of $55-70m which, if debt funded, could imply peak a debt/earnings ratio of 3.2-3.4. The broker expects that, as the stock matures and becomes an infrastructure-type player its multiple will expand."

You can read the rest of it at:

http://www.fnarena.com/index2.cfm?type=dsp_newsitem&n=F7807310-FC1E-4C5C-BA1D5FCA01DA926E

Cheers.

Anton