Arrium's 4 year forecast

Over the last 4 weeks Iron Ore Spot has averaged = $US95 and AUDUSD = 0.93

I put these numbers into my model. Assumes no dividends are paid.

	Column 1	Column 2	Column 3	Column 4
0			Accounting
1		DA	EPS	Accounting P/E
2	FY15	-359	0.10	8.1
3	FY16	-361	0.12	7.0
4	FY17	-359	0.13	6.4
5	FY18	-358	0.14	5.8
6
7		Capex Stay In Business $8/t stripping	CASH EPS (EBITDA - capex- interest- tax)	Cash P/E
8	FY15	-185	0.25	3.3
9	FY16	-186	0.28	3.0
10	FY17	-185	0.29	2.9
11	FY18	-184	0.30	2.8

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6
0		Debt	Gearing	EBITDA Interest Cover	Leverage Ratio	EV / EBIT
1	FY15	-1,521	28%	6.9	2.4	9.7
2	FY16	-1,182	24%	8.5	1.8	8.0
3	FY17	-828	18%	11.2	1.3	6.8
4	FY18	-459	11%	16.7	0.7	5.5