so we got $7.10 based on $1.90if we use a very long term price...

so we got $7.10 based on $1.90

if we use a very long term price of say 25% less (i.e $1.40 ish for zinc), the valuation based on P/E of 5 is simply 25% off the $7.10= $5.33

note these figures are based on P/E 5 and dont take into consideration any new projects in the pipeline or increases in future annual production, nor do we take into account the gold.

I knew the previous figures were too good :)

still check out the massive eps of $1.42 per share based on $1.90 zinc price/ 65 cents lead and 30% margin after tax!

its UNREAL!

imagine the P/E goes from 5-7 for example in the future

limited downside, great upside

*******of course we are HEDGED and I havent included the hedging!!!!

so 0.142 unhedged,

hedged : take say 20% off the EPS = $1.14 per share

P/E of 5 = $5.70 per share

we're trading over a dollar below this, and the hedging isnt gonna last forever. plus taking 20% off due to hedging, effectively assumes a zinc price of $1.50 long term

so yeah - valuation is around what others were saying b4 - around the late $5 mark due to hedging causing more conservative long-term pricing parameters to be safe.