Not really because we are talking about EBIT from the Cinabrio project. That is the only earner at the moment. From those earnings the company has to finance assorted stuff elsewhere eg. portugal, armenia and so on so that company EBIT will be a fair bit less than Cinabrio EBIT.
Having said that, it will still be a low PE.
The unfortunate thing is that these blokes can't get their act together at a time of very high copper prices, and reap the benefits. If copper tanks like zinc did, and like nickel seems to be doing, its curtains and no amount of board room radio spin will save it.
TMR Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
