back to a dollar plus soon, page-10

Yeah as I said its rough,

Yeah i know Comp tax is 30% im an accountant :P

I simply got the after tax figure p.a from the GBG website. Was about $395million free cash flow after tax for Mungada (at 3mtpa) and Karara (at 8mtpa). Thus I derived my calculations from that. I assumed they had taken out the 50:50JV with Ansteel. My 40mtpa shareprice is simply based on the same margins as above. However I believe an EPS of 15 would be fair for the initial days of production because of the production increases which may occur annually. Thus market expecting higher profits every year.

What are the general margins on magnetite ore + distance costs? Could get a more accurate figure from that taking into account JV. However I do believe we will see $40!