youre looking at 22 cents a share with all the added capital and...

youre looking at 22 cents a share with all the added capital and 10% profit growth to 116mill NPAT

So its trading at nearly 8 times EPS for 2009 atm

It was a highly touted growth stock trading at 15 times forward once or more, but now the landscape has changed and bluechips are trading at forward 10 mostly

you guys do the numbers - the added shares from the cap raising increases the shares outstanding markedly (almost doubles it from 292 mill pre issue to 532mill shares outstanding post if retail is taken up!)

NPAT currently 106mill. 10% growth - 116mill

116mill/532mill shares - EPS of 0.218 or 21.8 cents per share

Long , long term when the market eventually comes back i guess this company could afford a PE of 10-15 again , so maybe some ppl getting in for the very long term???

I wanted to, but management is a big question mark to me after all this. Also in the near term i see them making 100mill like last year and 100/532 is an EPS of 18.8 cents per share

Long long term, if management can be trusted and is good with decisions etc, and if the companys goodwill and rep is maintained after all this, the PE may return to standard 'growth stock' levels of 10-15 forward in a real boom market.

for now tho in this economic climate and with still 500 mill in debt that is US DOLLAR DENOMINATED, its too risky for me.

Be smart, be careful, take obvious profits when need be