fund managers view, page-26

SAR's PER at close of business on Fri was 12. Historically, a PER of 12 isn't high for a gold producer.

Let's use this number and think down the track in 2-3 years.

If they were to have a forward PER of 12 at the end of FY15, assuming EPS were $0.13 (easily achievable IMO), SAR's SP would be $1.56.

$1.56 in 2-3 years. Current SP $0.36. Buying SAR at today's bargain basement prices with a 2-3 year investment timeframe "could be" a very lucrative proposition.

As always, DYOR.

Deme