well here is my opinion

with 70% of their business being in the resource sector,10%defense sector and with news that exports now far exceed domestic sales in the defense sector so guess that means increase in defense sales especially with the us test results eg 29%exceeds the reqd 16% bend before fracture after explosion.multi source green feed china and domestic.looking at past finiancials what, a conservative net profit of between 15 and 20m 2011 thats eps of between 7 and 9 cents i put a sp of between 60 and 80 cents st to mt.just my thoughts ps as their ip eg varying standards appear to be well respected take over may be made by either current shareholders,bluescope,onesteel or china green feed supplier wishing to gain access to ip.