gift, page-19

Looks like the gold price has gone into more of a consolidation than a bounce, which is still good. I am guessing there are a lot of brokers still sprouting the "sell gold, $800 target" story. Once they get taught a lesson (about 3 or 4 sessions of slight gains should be enough) then I expect to see the bounce we wanted in the gold price.

By my calculation at the current gold price we are currently on 7.4x P/E which is still very conservative for a gold miner. (especially if you were watching NCM on 20x P/E a few months ago)

I'm saying it's already cheap, but here's an interesting target for you, even based on a gold price of just $1400US which is not that far away ($140), SLR would be on about 4.33x P/E. We should average towards 10x P/E at least (in the long run) which would be 2.3 times the current SP, or $1.63.