2 factors
production rate
nickel price
if nickel falls in future years and proddy stays the same - that eps fig won't be maintained
if nickel stays same and proddy rises, that figure will be maintained
i very much doubt SMY will mantain a p/e of 10 @ high metal prices at all. The only reason SMY's historical p/e is about 14, is that the EPS for the next 2 yrs is about 80c and about 120-125c+, rest of the yrs 80,50,40,20,20 depends on any other resources they find. The sum total of these figures gives about $5 as a possible target.
like that..
SMY
sally malay mining limited
