can someone update the SP calcs?, page-2

If they do 27,000 ounces for the year and being cautious on the profit per ounce I think it would be $22m profit. All subject to them getting the grade they had in the announcements. So 2,513m shares on offer would see $0.008 profit per share. So at PE x10 - 8 cents PS, PE x15. - 12 cents, PE x20. - 16cents. Now that would be without declaring a dividend. If they declare a dividend it could be much higher but they do need to pay back the debentures. I think what will make the SP blow up is the next drill results seeing the same if not better results of lost dog, that could be potentially in the $20m profit range every year for 10 years. SP is all about the future. I agree Proof of Performance Testing (POPT) can take some time so gold may not be until late July.