80cents imo is current fair value.Anyway for discussion purposes...

80cents imo is current fair value.

Anyway for discussion purposes here is my broad brush calcs;

-6mtpa at AUD$102/t and cost of $65/t
-factoring in admin/depreciation and 15% discount
-assuming an additional 400mil shares dilution for future cap raising (total shares on issue c580mil)
-AUD $0.96
-Tax 35% (30%+5% est Mining Tax)
-JV 49%

EPS would equate to approx 26.3cents per share, Assign a mere PE of 8 would offer a SP of $2.10

Happy to hear any opinions or contrary views.