Hey slip, IMHO, I think a $1 share price target is very...

Hey slip, IMHO, I think a $1 share price target is very realistic, simply because if they only mine for 3 years, with the current POG, TRY will make approx AUD $300m. Yes the debt needs to be paid off, but TRY got a little lucky with their timing the refinance, as their debt repayments are very very manageble now (currently US $38m after the June 30 debt payment). That aside, they have their Casposo asset which I think is probably worth about US $20m overall.

You hold TRY, so I think you probably know that the current short mine life is going to be extended even with very mediocre drilling results, simply because they have basically already said so in regards to reworking the current mine plan, expanded pits etc. Even just 1 years worth of extra gold could see 50% of their current market cap be created in free cashflow. Within the 100k ounce production profile, I cannot think of any other stock that comes close, other than perhaps RMS in FY17.

Time will tell, but if POG stays around current prices and TRY does the same, I think I will add to my position, as management have had a pretty good record overall.