The 5 brokers who have issued reports post the quarterly have an average 2006 earnings of 66.02 cents. On today's close that is a PE of 6.876.
JBM's average 2006 earnings is 78 cents with a PE of 14.09.
Southern Cross Equities report has a nickel valuation matrix with an MRE share price of $8.20 at a nickel value of US$10 per pound - my view is that this will be the average nickel price for the next 4 years.
Nickel did not reach a record price over night nor was the stockpile at its lowest - but it was close on both and is clearly heading towards a record on both fronts.
The case is there for an $8.00 share price - but will it make it. I don't know - but it is a very nice thought when I go the sleep at night and to fund my expansion of my EOS holding (the share).
Regards Eos
MRE Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
