Ann: Half Yearly Report and Accounts , page-5

Price targets:

Assumptions: 300m shares on issue, I understand there may be further dilution from profit targets being hit etc, but this is just for us to build an idea of the potential here.

PE: 6 (very conservative figure, but this sector hardly trades at big multiples)

NPAT: $13million -> 13*6/300 = 26c
NPAT: $21million -> 21*6/300 = 42c

As AZG continues to deliver and grow earnings/dividends then the sky is the limit. FGE trades on a PE of about 12. Its not hard to see AZG commanding a share price of $1.00+ down the track, if they continue to deliver that is. One to hold on to I believe.