Hi Lefevre,Keep in mind the exercise merely assumes February 13...

Hi Lefevre,

Keep in mind the exercise merely assumes February 13 results for 12 months. The real deal is the target of 36,400 tonnes. On that basis model (keeping C1 @ $2/lb) spits out NPAT ~$147M ($25M additional CAPEX interest included)- at 50,000 tonnes NPAT ~$219M (further $50M additional CAPEX interest included - but not factoring in additional labour).

However I agree that if operations matured to those levels PE might be less than 10. Then again depends what else is going on.

Some weight to mine life (Boseto - 20 years), stage in cycle of CAPEX and country of operation also considered overall. Simple PE approach is merely one way of looking in for snap. Sorry but I still think 10 is okay for now.

All speculative. DYOR
Sachmo