my back of the envelope calcs say that at 33K production (always use lower end of guidance for MRE), MRE share 20K.
if aud nickel price averages $22k ($10/lb) and they can get costs down to $5/lb then will make $220m profit for CY11. at current SP this is a p/e of 4.
market update - nice update, page-5
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