Parameter ichis program petra capital tomboy book value 8c 55c...

Parameter ichis program petra capital tomboy

book value 8c 55c 95c

eps 2015 6c 27/650= 3c 90/650= 9.5c

eps 2016 16c 22c 28c min to 65c max

pe ratio .. 0.5 0.5

mc 78M 300M 600M

bswan -10c 13c 33c

windarra 33c 33c 33c

LJ -10C 9c 15c to 23c

debt 60M 60M 0M, connotes are not current debt!

so book value represents not true replacement value of infrastructure nor insitu resources but what the market values assets minus current liabilities. So it is an unreliable parameter as the market may have the value entirely wrong like during the gfc or when NP is low or when there is no production income although when judging full production on mill capacity minus discount on recoveries n lower grades, unexpected costs.

like real estate you cannot value an asset on book value as its not a qualified valuation, its better to value on eps n pe ratio to next years income, profits x 7 to 10. On this parameter real book value is close to petra capitals figures of 55c. Forget 8c.

the market does not expect any LJ restart nor any income or profits for 2015 on current MC. Thats the dysfunctional disconnection between FA v TA or value investing in undervaluations v short trading.

the problem with relying on book value is that there are NO short trading in POS currently, its all longs, value investors and has been since january.