metals and miners rating, page-11

The only thing i'm not comfortable with was a comment which i believe came from the company during the agm or other presentation saying that they don't intend to ever have more than a few years of reserves in place. This tactic won't allow forward earnings potential and therefor an increase pe. Nor will it make them a great takeover target becuase although they have some great deposits they're not prepared to spend the money now to bring them out of indicated or other status into a more compliant status.
Its a different company with 500,000+ ounce reserves than 200,000+. So if they only ever have 200,000+, I.e. Producing 100,000/year and measuring up 100,000/year to constantly only have 200,000+ or thereabouts is not satisfactory to a large investor and so that big money won't come in my opinion until this changes. SP will never advance above the current pe.