its the bad weather.
HUGE ramp up in 07/08 though.
good management and great growth profile, combined with some of the best grounds in mining = high potential in future (growth potential)
whenever growth is high, PE will be higher than average too.
Using todays metals prices and the production profile for 07/08 plus the added bonus of the high grade nickel grounds near flying fox (upcoming drill results), the EPS for 07/08 looks v good and exploration very prominsing.
Its been well documented that this company is a takeover target
READ THAT AGAIN.
Just like JBM in nickel, they dont fall down much, as its been well documented by management in previous press articles that they have 'been approached' but have declined any offer.
that was when the price was at near all time highs too!
theres the takeover premium in built ala JBM in ni.
profit downgrade, page-30
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