I don't think that exploration data was about MSC.
If you read the latest research report (on web site) then things look very positive for its building product. They expect sales to be running at over 60kt/yr by mid '08.
Given that b/e is at 30kt/yr and assuming sales at $300/t then we can expect a profit annualised at $9m. This may seem small but it is just the beginning. With about 2b shares on issue then earnings will be about .45c/shr. With a pe of 30 reflecting its potential then we should have a sp of about 14c, and we haven't even accounted for the potential of DRX.
Add to My Watchlist
What is My Watchlist?