Sunrise...Financing the Mine, page-48

All these gouls trying to buy the stock cheap. Well try this on for size.
The EBITA average in the DFS is 342million US per annum or 456m AUD. Now the average depreciation on mining stocks is about 6.7% per annum, on a capex of 1.4billion AUD (some of the cost is not capital ore replaceable) is 93.8m AUD. They have already spent a considerable sum of the capex requirement from previous equity raisings mining camp etc so the US borrowing requirement is unlikely to exceed 1.1b so at 6.5% interest thats 71m aud. There will be no tax for many years because of the write downs of capital and payments. So on 742m shares that leaves EPS at 39.35cents a share. Now this is a low case given the no Scandium no max production assumptions. With Scandium eps goes up considerably as does max production.

Even with higher interest costs and higher depreciation the numbers will not be less than about $190m EPS or 25cents a share. On a multiplier of 12 guess what the share price will be - for the lower number $3 for the higer number 4.80 per share. So this is a bad result - Give a break