ord about to be re-rated, page-5

Speaking of Rerating take a look at the numbers below.

600,oooT x $114 (364-250) = $68.4m

$68.4m x 0.17 (ORD's Stake, DFS rough) = $11.6m profit.

PE 30 and you get about 300mil.

But recall that this wont be until about 2015. So this project will take time. In terms PE indeed 30 would be reasonable given AWC has that of 33 and is a 5.2B company.

If they can move to a binding contract there is no doubt in my mind that there is the potential to go to a dollar. But it will take time... Patience