http://finfeed.com/juniors/syrah-rerating-imminent-according-macq...

http://finfeed.com/juniors/syrah-rerating-imminent-according-macquarie/20160913/

In Macquarie’s view, the key catalyst for SYR will be the successful commissioning of the Balama plant and completing its first commercial sales. While the broker acknowledges that the company will not have any meaningful earnings until at least fiscal 2018, the ramp up from thereon in is substantial with the broker forecasting net profit to increase from $46 million in fiscal $2018 to $226 million in fiscal 2019.

This represents earnings per share of 85.6 cents, implying a PE multiple of 4.7 relative to fiscal 2019 projections.