alex_9645, Thanks for your reply. I took the revenue for the six...

alex_9645,

Thanks for your reply. I took the revenue for the six months and doubled it to give a 12 month equivalent. I gather from what you're saying that the revenue was coming in over only three months. This would mean that the revenue should have been multiplied by 4 to give a realistic annual equivalent.

That would make a PE of 15, a much more credible figure.

We need to know exactly when copper production and copper sales first started.

Thanks again. Accounting is a long way out of my comfort zone.

The S/P I used was the price that was on screen at the time. I guess to do the calculation properly we should use the VWAP over the past week and annualized figures derived from the actual period revenue was being generated.