Ann: Quarterly Report 30 September 2014, page-41

No, but I am well aware that the banks invariably demand a ridiculously high risk/reward for any involvement in mining.
I don’t know that PGI will ever get to $1.60 but I would not be in a rush to sell anytime soon, they are worth considerably more than most shareholders believe. Now that they have a 5 year mine life they are much easier to put a value on however.
Here is a little calculation that will no doubt have the non-believers rolling on the floor ! But this is a recognised method of calculating the value of a company, not my invention I might add. Mr market may not always agree but if there was a takeover bid or something expansionary happening in the company the SP could be expected to move close to this calculation. It won’t happen overnight because we have a refinance to get through then we need money in the bank and figures showing this on a quarterly (for a full quarter) to prove it – the 2nd Quarterly due out at the end of July will be the real start.

Where I believe we are now (until March)
950 GE/wk = Au 872 + Ag 5426
Equivalent to 89.5% throughput @ 53.25% recovery
Revenue 1,168K less costs 846K = 322K USD Free Cash/wk
Free Cash 366K AUD/wk or 19m AUD pa
NetProfitAfterTax = 19m, divide by number of shares ~ 945m = EPS 2c
5yr mine is usually given PE 10
Assume PE of 10, 10 x 2c suggests SP of 20 cents

After March @ 1000oz GE, SP of 24c