call axm /16.12.09 , page-6

G'day
I was told the same, ie production running around 30,000 oz per quarter and on track to reach 140,000 oz early next year.
If this does come together 140k oz at roughly $400 profit per oz will give a pe of 2 at current price.
That's very basic without accounting for options. Have a look at the pe of other producers.
Please do your own research though as I failed funnymental school and now view the craft with detached distain :-)
cheers
Rod