Eddy, the PEs of NCM and LGL are not reflective of the current situation imo. I believe both companies had substantial hedging losses to deal with.
The leaders here and overseas will absolutely soar in price as they start to produce profits unencumbered by gold hedging at a few hundreds dollars an ounce.
Now just imagine where the CTO share price will head to should CTO look like successfully achieving its stated objective of ramping up to 100,000 oz pa production rate and then onwards to 250,000 oz pa production rate by 2011.
Now add to that the aim of achieving a "1 million oz gold Reserve by Dec 2008 and 2 million oz gold Reserve by Dec 2009" combined with increases in resources!
From the 7th. February presentation.
how much is our company worth, page-24
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