AUD 69.88c. Nickel up 2.7%. multiplier effect., page-9

In FY15 the FCF was $72m. I don't know where you got $30m from?

The EV for WSA is around $461m so divide that by the FCF of $72m and the trailing EV/FCF ratio is only 6.4. Anything below 10 is cheap when looking at an acquisition cost.

I strongly doubt that the SP will get to $1.60 like another poster predicted. WSA would be a take over target before the company becomes that cheap. If it does then I will be loading up the truck as the saying goes.

Cheers