Once the business model is proven later this year though, I think a PE of at least 10 is a given considering the exponential earnings growth that will be coming from 8mtpa iron ore beneficiation target and (hopefully) the steel mill plant in years to come. A PE of around 30 would be fair as long as everything goes to plan.
NSL Price at posting:
2.2¢ Sentiment: Buy Disclosure: Held