Thanks 50ftcat, I should have used EBT,So EPS calculation is,...

Thanks 50ftcat, I should have used EBT,

So EPS calculation is, 37/136 = 27.2c

And that equates to 15 x 27.2 = $4.08 per share

Which is around 5.2 X the current SP

Anyway those numbers are really fiddling around the edges. Its plain to see there is serious multi bagger potential here. The number of shares issued to raise project costs I use in the calculation is highly likely to be less. The PE is conservative when compared to comparable producers. Also the output and earnings could be nearly double what is used in the calculation. So I really belive the rough $4per share figure is baseline. Also I forget something else, the price of potash is on a continual uptrend at the moment. And another thing, Australia imports 100% of its current potash needs, a home grown producer may well attract some State or Federal incentives.

Right, enough...just get the hell on!