does silver lake fit the criteria?

Lets look at some recent history along with forecasts from Morningstar. EPS in cents.

FY11A 7.9c
FY12A 14.5c
FY13E 24.7c = 12.14 PE with SP @ $3.00
FY14E 54.8c = 5.47 PE with SP @ $3.00

Clearly SLR is experiencing exceptional earnings growth. Within 18 months fwd PE of 5.5 and that's assuming POG remains moreorless where it is now. A jumps to say $1900/oz will see PE close to 4!!

Does this make SLR a bargain buy at today's price? I feel it's good buying and as the planned increase in production is signed-off and SLR has history of meeting deadlines. FORTUNATELY pressure on wages has subsided. About time to. What will attract interest from funds is when SLR announces its maiden dividend. 8c for FY13 is my estimate and 17c for FY14. 24-28c for FY15 is quite conceivable imo although estimating that far our is unreliable. The FY14 div of 17c equates to 5.66% net and 8.0% gross with franking credits included.

IMO THREE main requirements for potential investors:
A) Strong faith in the deposit continuing to yield high grades with good metallurgy.
B) Strong belief in competence of management including proven trk record in converting deposit into production on time and within budget.
c) faith that POG will remain between 1600 and 1900 during next 18 months.

I certainly have high confidence in first two but only moderate confidence in the 3rd. I could well be wrong and POG exceeds 1900 by end of CY13. Nobody knows and that's why share price for Silver Lake appears to be good buying. Limiting myself to 4 companies only, i'm looking to make gold shares 20-25% of my overall portfolio. Have over 1000 to choose from on ASX alone.... but am restricting myself to those paying divs, or on the cusp of doing so. SLR is one quarter of the field.