I think people need to focus on market cap rather than share...

I think people need to focus on market cap rather than share price. BLK was oversold leading into Xmas and has now recovered. It has achieved commercial production however 75k - 100k oz per year should be used for valuation purposes and not 200,000 0z yet.

Market cap around $250m - $300m is probably the upper limits on a value based model.

If you focus on 10,000 oz per month with aud margin of $400 in 2017. That is 4m cashflow per month or $45m - $50m pa. That gives $300m.

$0.90 - $1.00 per share.

This may take 3 months to get to and will be affected by POG fluctuations.