Dhukka, good point. Add to that the habit of BGL providing guidance in April for the full year result and I think its almost certain guidance will be provided. For mine, I think the guidance will be restricted to FY11. From memory the company provided commentary after the AGM last year along the lines of full year EBITDA of circa 4 million and vaguely touched on the point again in the half year. Comment was pretty much we stick with the guidance until the dusts settles on recent acquisitions. For mine EBITDA of 4 million would be disappointing and I would hope for EBITDA of 5mill +. With increase in share capital we need that sort of a result to maintain PCP EPS.
As everyone expects the big kicker is going to be FY12. I think the tight range bound share price reflects the market taking a cautious wait and see approach. If you beleive the Microequities report concerning EPS of 3.1 for FY 12 then buying at .185 would appear to be a good opportunity. I think ME also have a valuation target of around .26 cents. This will also be upgraded one would expect once future years of higher cashflows are fed into their valuation model. I still think we will be looking at around 30 cents around full reporting time next year based on presently available information however time will obviously tell.
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