Mav, you wrote "Let's say the sp is 65c in 12 months, at oppie expiry. Pretty reasonable figure and not in dream land."
Options expire Oct 2012- that's 18 months left to run.
Is 65c your one year price target for GDO?
At $1/ share Mkt Cap would be ~$850m. Not hard to imagine for a 120kOz low cost Au producer even if you don't believe Au has a lot of upside. That ~300% gain for options bought today.
They don't look cheap because the market is reflecting their value, IMO.
GDO Price at posting:
34.0¢ Sentiment: Buy Disclosure: Held