Ive been looking at the stock too.ill run some figures later in...

Ive been looking at the stock too.

ill run some figures later in the day for a full analysis and ill post it at some stage

But TTY may make 20mill NPAT and in that case TTY will make 13cps as you say (not incl options on the capital side u said)

so TTY trading on a PE roughly close to 10???

If FRS makes similar amount of dosh and similar production profile as TTY, then 20mill/75mill shares (excl options)= 26cps

with options = 20mill/100mill (shares+options)= 20cps

Will there be dilution to capital???

Yes, but I dont know the extent -obviously therell be another 1 major cap raising b4 proddy. They can take debt too.

If you add another 30mill shares: 20mill NPAT/130=15cps

What PE would you assign??? Will they make NPAT 20mill similar to proddy profile to TTY??? Dont know, Ill research it further and get back to you!

But if they make 15cps, then theyre trading at a forward PE of 6

TTYs got keirnan and a much more high profile GROWTH profile, so theyll get a high PE

Anuy long term FRS holders wanna comment???