next q guesstimate, page-7

USD10.5m net profit this qtr followed by USD16m in the following qtr according to my s/sheet.

That puts AVM on a p/e of 3.3x current qtr's annualised results and just over 2x next qtr's annualised results!!!

It seems that any discounting for legal risk or sovereign risk is way over the top here. Crazy to sell unless there is a company breaker looming - eg the S&G action could put AVM out of business. Struggling to see how that would happen.

So are AVM a takeover target? I can't see why not, there is corporate activity going on in with other miners in the region and even applying a very conservative cost to resolve the legal issues (eg a $10m donation to build some schools, infrastructure etc) then AVM should be a bargain for an astute buyer.

Geez, in fact I might just have to send off some emails to those big Canadian miners telling them to come and get a bargain for only $1 a share (USD of course) :-)

Good Luck all

Zinc