Nice post Chuk!Following on from your figures, today The Bull...

Nice post Chuk!

Following on from your figures, today The Bull has posted a table of the top 10 Gold mining stocks in Australia based on their market cap.

Of interest is their p/e ratios.

Medusa Mining (MML) has the lowest p/e ratio of 5.24.
Evolution Mining (EVN) has the highest p/e ratio of 17.66

So based on your conservative figures, ABU with a projected $70m profit, and a p/e of 5.24, would have a sp at or around 11c!

A more likely p/e of 8 would have ABU's sp at 17.5c!!!

Of course if the POG increases, and the AUD$ drops, then ABU's share price, and profits, will rise even higher!

Add to that the expected good news of more discoveries, more positive drilling results, and more gold resources, and a sp of 20c is very achievable in the next 12 months or so!

I'd be very happy with a sp above 10c, but 20c does have a nice (gold) ring to it!

Go ABU!

http://www.thebull.com.au/articles/a/32033-10-gold-stocks-riding-the-next-bull-run.html
(An interesting article in its own right!)