Well I am encouraged by todays rise so had a look from another...

Well I am encouraged by todays rise so had a look from another angle.

Going by the company (conservative) forecat of initial production of 200,000 oz per anum.
Assuming a gold price of say $1000 (we are hedged for a lot more) on todays price thats earnings of $200 mil per year.

There are 389,000 shares on issue which gives earnings of 51c per share. Current price 29c (ridiculous) so we are at the moment on a p/e ratio of less than 1.
How many (soon to be) producers can boast figures like this.

Of course the price will head north as soon as 1st bar is poured but it will need to get to 51 cents just to be trading on a PE of 1.

This was a 1.40 stock when they had a lot less of everything with gold still a year away.

Why not again and beyond in the coming 12 months.

Any thoughts, and please feel free to point out any errors.

Cheers