I'm very interested to see how the hedging profile has changed....

I'm very interested to see how the hedging profile has changed.
It doesn't look like you've included any allowance in your above analysis so just be aware of that dip into your NFCF forecast.

I've managed to build a good position for the recovery and averaged down to below 20c. I do think it's going to take longer than next week's quarterly and probably the next one as well.

Hoping to stick around until 32.5 to 36c. Patience for me.

I'm thinking CY19 is good for that kind of valuation at a P/E of 6. Even with the 525 million shares issued number Kojak has mentioned previously.