Stefanis I have not done the sums on your ratios, but certainly...

Stefanis I have not done the sums on your ratios, but certainly cannot disagree with a PE of 12.9 times as a target. I was thinking it might hit 8 to 10 times if the market perceives a period with a (cost inflating) hump of projects (as we have now) that are raising costs followed (relatively speaking) by a black hole. Very possible if the Chindia story hits some air pockets!

LEI, and some of their competitors, might be hit on the way up then on the way down again like a half cooked pancake being flipped into the ceiling, then peeling off and landing on the floor.

At the moment the ABS Private New Capital Expenditure and Expected Expenditure look too perfect . . . I wonder . . .