I agree to an extent that it's priced on future earnings.
HOWEVER
We already had a run up to 10c on our supposed "future earnings" and failed miserably since then. Investors have lost faith in management and now they will need to actually achieve what people were paying 10c for before we break 10c again imo.
I'll be surprised if we hit 15c before the main arm of PCI is up, running and we have coal going downstream. I do like surprises however so won't complain if we hit 15c before that.
I actually made a thread a while back doing the sums if you care to go back and read it. It was very bullish on the Renjin/an off-take going through.
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