I bought today because I saw the Sp broke my support levels. It...

I bought today because I saw the Sp broke my support levels.
It closed at S2.

. Yuan is stabilized due to USD weakness and I think the picture in China is getting clearer for the next 3 months.

. The headline
PE 12.18 Yield 7.94%
My calculation
PE 59.31 Yield 1.69%

This is overpriced because all the profits were used to pay for the divi.
NPAT 47,538,000
DIVI 27,207,000

The ex-divi was on February and the divi payday was 4/3/16. So there's no divi in the picture for the next 3 months which is good to support the Sp.

. Dilution price for the Sp will be $5.37. This is very dangerous if the company balance sheet is a rubbish one where It would force the company to rise capital.
There will be a 16.92% reduction for the Share price in case of a CR.

But. but and but.

Financial balance sheet
OCF 164,966,000
ICF 81,998,000
FCF 82,968,000

P/FCF 15.30 Yield 6.53
Price to free cash flow is the best out of all my stocks, including the ASX200 stocks. I doubt If anyone could find a better.

DCF 1,164,000
CASH 291,618,000

Borrowing is reduced by half to 37,485,000 from 79,820,000. Positive
Repayment of debt from borrowing is lowered to 11,442,000 from 110,545,000. There was no new debt. Positive

Actually one of the rating agency said there are many default companies in resources sector because they have operating capital less than 100,000,000 (blue chip ones)

A risk is worthy for me at this time.