There's some interesting bits in the back of the presentation....

There's some interesting bits in the back of the presentation. In particular, the whopping $22.0m of net financing costs forecast for FY2012, despite the massive debt repayment.

For comparison, they paid $20.6m in 2010 with about $290m of interest bearing liabilities at year end. Yet they are now forecasting $22m on just $143m for 2012.

Based on the forecast of 2.2cps eps or NPAT of $29.7m in 2012, I'd have thought Lazard's 20cps about where the share price will settle. Maybe for the small guy, it will work to grab a few post-entitlement and hope for an spp to gift them a larger parcel at 14cps.