news flash nickel prices, page-16

Lets say profit is ~$150m this coming year, which I expect if nickel stays around the $10 mark. MRE has ~$900m market cap, so a P/E of 6...the P/E of other miners is ~18.

So is MRE undervalued by 3 times? Should the price actually be ~$2.40? I expect that once they announce a large dividend in 6 months or 1 year price will shoot up, once people see a 20% yield on a strong company (as long as nickel stays high)! Or maybe the more likely situation is that it'll rise gradually until P/E and yield are at more normal levels, as more details are released like profit projections.