price target 32 cent

	Column 1	Column 2	Column 3
0	Metro Mining
1	Bx = US$/t CIF China	65,3
2	Discount for high silicia content	-10%
3	Bx = US$/t CIF China effectiv	58,8
4	AUD /USD (long term plan)	0,85
5	CIF China in AUD/t	69,1
6	Shipping to china in AUD/t	-15,0
7	FOB price in aud/t	54,1
8	Royalties in aud/t	-5,4
9	effictive price sales price aud/t	48,7
10	operational costs aud/t	-25,0
11	operational magin in aud/t	23,7
12	---------------------------------------------------------	--------------------------------
13	Sales in MioT/Year	2,0
14	---------------------------------------------------------	--------------------------------
15	Gross Profit in mio aud/year	47,5
16	interest in mio aud	-2,4	(8% for 30 mio borrowing capital)
17	depreciation in mio aud	-6,0	(60 Mio Capex at 10 year amortization period)
18	EBT in mio aud	39,1
19	Tax 20%	-7,8
20	Profit /year in mio aud	31,2
21	multiplier	6
22	Total value company	187
23
24	Capex in Mio AUD	60
25	borrowing capital in Mio AUD	30
26	new own capital in Mio AUD	30	(300 mio new shares at 0,10 issue price beginning 2016)
27
28	Shares old	288
29	Shares new	300
30	Shares total	588
31
32	Value in mio Aud	187
33	Shares total in mio	588
34	Price Target in aud	0,32
35	actual price	0,036
36	potential	786%