EGH will be valued by the market on their run rate not their...

EGH will be valued by the market on their run rate not their current PE for this year, which I agree looks high. If you look forward to next financial year, EGH are on a PE of around eleven, which is very cheap for a company with very stable earnings and exceptional management. This is in line with the latest Canaccord report and their forecasts have been very accurate for EGH in the past. EGH are also at a reflection point where they are not reliant on the market to raise capital in the short term due to the development opportunities currently available within their existing village holding and their stated buy and build strategy. With Robins proven track record in building this business, it is likely to be worth a lot more in the future and I have a current valuation on it of $0.90.