Thank you for your detailed post which was more or less covered...

Thank you for your detailed post which was more or less covered when I estimated PGI's P/E using a 12-month period of production and costs. I was even conservative to use 85% of designed output for that exercise. Even then the P/E looked very good.

As I and others mentioned, the important thing is to ramp up the production as close to the designed capacity. Due to its low cost, PGI should do very well.

What I have been trying to do here under this thread "break-even point" is to determine the break-even point. It only needs to produce 8900 oz of gold to recover the estimated total costs of US$11.7m per quarter based on the hedged price. If we use the current gold price of US$1650, the breakeven volume would be reduced to 7000 oz, excluding silver. PGI should be able to meet that in the Jan/Mar Quarter, hopefully.