RHM 0.00% 30.5¢ richmond mining limited

EBITDA(say) NZD80MCapex met by issuing (say) 200m shars at 50c,...

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    EBITDA(say) NZD80M
    Capex met by issuing (say) 200m shars at 50c, balance debt funded.
    EBITDA/share = 80M/250m shares on issue = 32c
    multiplied by (say) four = value per share $1.28
    A further 20% discount for the wait to 2012 = $1.00 per share or thereabouts.

 
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