50c stock

I mentioned a while ago why I thought this could be a 50c stock if management delivers and gold price holds around current levels. Now to show this wasn't pulled out of thin air, my reasoning is as follows:

From recent investor preso:

CY2016 prod target: 145-160k

AISC: $US 715-815.

Now let's be conservative and say 150k production at $815 cost.

Current margin = $(1280-815)*150k
= $465 * 150k ounces
= $69.75m

This profit before tax, likely there would be deductions but conservatively still we assume 30% tax.

NPAT = $48.8m

Market cap = $359m

Forward PE = 7.4

Now if BDR hits these conservative assumptions, SP currently is far from expensive.

Arguably, if gold continues higher (which I personally think it will), a PE of double could be justified, ergo a SP well north of 60c even assuming current margins.

Know there's somes ifs/buts there but I think this one of the better value goldies out there, high risk/reward imo