I attended the AGM last week and there were lots of positives
Luke Tonkin ( ex WMC ) gave a good presentation and the pipeline project looks like it will go ahead
Probably wont ramp up to 3 mtpa until the middle of the year but with a fall $A and possible 10-25% increase in iron ore prices then $1.50+ a share next year is a no brainer
05/06 NPAT $ 55,000,000
Shares on Issue 400,000,000
Conservative P/E 12
S/P $ 1.65
Cheers
kawartha
screaming buy
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