blr - valuation , page-4

Grant64t,

Fair enough. I concur with erring onthe side of caution.

I think Uranium is classified as a metal (even though we consume it as a fuel) & hence in materials.

The P/e debate is something I argue (with myself at times) as to what is realistic. I was trying to show that those two companies (which are U producing), should & do have a superior PE to the broader materials index PE. Hence it would not be unreasonable to have a higher PE as BLR would be a producer at that time.

The reason for interest inclusion was to try to get closer to the theoretical income BLR would be earning , hence taxable income & tax payable reduced.

I took the PE for ERA straight off the screen (Aegis I think supply the data). So can't explain that?

Certainly has capacity to shine at some point, especially when they have capacity to ramp up beyond the 1Mlbs pa.



M