Thank you for clarifying your comment. The numbers I quoted are indeed the ones I used in my FY2019 Forecast. However to get to a ORE FY2019 PAT/EPS Forecast there are a multitude of adjustments that have to be made to these basic (but important) Olaroz operating metrics. My model attempts to incorporate everything (of which i am aware) including the reduction in the Argentinian Tax Rate from 35% to 30% and the Argentinian Mining royalty of 3%. The end result are the following key numbers for my FY2019 ORE Forecast:
1. JV PAT = US$69.7m
2. ORE PAT = US$53m
3. ORE EPS = US$0.20
Based on the above numbers, ORE's forward FY2019 PER = 24 times. Still high but lower that FY2018. Hence why I see short term ORE SP weakness until ORE's FY2019 performance starts to see the light of day.
Please DYOR
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