Reuters has ARI FY15 eps = 19.58 see :...

Reuters has ARI FY15 eps = 19.58 see : http://www.reuters.com/finance/stocks/analyst?symbol=ARI.AX

This implies a AVERAGE Iron Ore $AUD117

So $us110 and 0.94 as an average iron ore for FY15

What I like about Arrium is the CASH FLOW this generates.

I calculate about 0.36 a share.

Using Capex Assumptions for FY15 (August results will tell us exactly)
Mining $8/t for Stripping
Steel 50% of DA so $50m
Mining consumables = 50% of DA so $25m
The Mining Consumables Canada expansion completion is I think about $25m in FY15

Using the above what should Arrium trade at 0.36 times X ?