8.00 - tell'em they're dream'n. How overvalued was that.
ZFX's only worth 7.30/7.50 max based on that half yearly.
227.6 npat to 31 dec'06 vs. 87.6 in 2004. That's with 60% Zn growth for 6 months to Dec'06.
So far, Zn has only grown an avg of 15 - 20% since the beginning of 2006. Those prices need to increase atleast another 20% for the next 3 - 6 months to have any hope of ZFX being worth 8.00.
If you multiply +20% by 227.6 npat = $273 profit to date.
Take 273 / 87.6 = 3.11 growth on dec'04 pcp.
The share price since pcp was ~$2.35.
So 3.11 x 2.35 = 7.32.
This thing's only worth 7.32 baby. There's your benchmark for Q3.
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- only worth 7.30
ZFX
zinifex limited
only worth 7.30
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