RE: Price target CAD 4.6 - 7/CalifDreamingI think I have compensated for that fairly well in both calculations :
In the first by
"However there now is clear for me that the "USD 297 - 495 million" figures are estimates AFTER capital costs have been deducted. Therefore my heavy stock dilution assumption, which was primarily motivated by capital costs probably is too catious, i.e. the true cash flow after capital costs are payed is correspondingly higher than the figure above. Correcting for this the price target should be significantly higher ,or around CAD 1 per share or a little bit more (calculating after tax)"
...and in the second (p/e) by using only 45 million shares i.e. a very low stock dilution.