Epi, thats were I have been looking at that page 7 of the...

Epi, thats were I have been looking at that page 7 of the presentation and believe its likely to be that, except with upside ..

Nov 08 - NPAT $8m / 220m (ord + pref's) x PE 15 = 55c p/share

Jul 09 - NPAT $32m / 250m (ord + pref's) x PE 15 = $1.92 p/share

That's how I got my estimate of $2.00 for July 09 ..

Now lets build into that increased forward orders for the TOMSK production plant and Other Sales .. look at total on page 7, likely to be Dec 2010

Dec 10 - NPAT $880m / 250m (ord + pref's) x PE 15 = $52.80 p/share

This is only an estimate and we know the PE is variable based on sentinemnt & mgt, although I can say that IMO mgt have been conservative and strategic ... ethical or not ..

Show me the pine cones !!!!!