Waitsia Phase 2 Cost, page-6

AWE recently advised 3 objectives by FY21, double reserves, double production, double sales. On this information sales by FY 21 would be 200m. Think EBITA would be 40% i.e 80m which is 15 cents per share.

if using EPS say 8x then stock price FY 21 would be $1.20. Discount this back to today by 5% per year stock worth today maybe $1.00. Think recently someone made $.80 cents offer for AWE shares but not recommended by Directors.

Absolute shame AAL not going ahead any time soon. If it went ahead we would be in new ball game.

There may not be capital cost to AWE for new Waitsia plant if they BOOT the plant. i.e. get someone else to own the plant and charge AWE processing charge. Although higher production cost to AWE.