When working out P/E multiples, do you usually take into consideration the cash in bank (and exclude from calculation). With OXR having $0.44 in cash, leaving $1.69 in assets at current price, the 2009 P/E ratio goes to 5.2 or something (@ 32c EPS). Am I missing something? That seems insanely low, esp. given zinc has bottomed.
OXR
oxiana limited
