More like near $3 once full re-rating is in place for ASX goldies compared to TSX goldies, and a bullish high PER of 20 or so.
70,000 oz pa, and a margin well over $2,000/oz.
EPS of 14.5c or so, x PER 20 = $2.90 share price
A parcel of 100,000 shares worth today $17,000 at sp 17c would be worth $290,000 at sp $2.90.
I have read that in 1979-1980 some goldies went up hundreds of times. Most likely these were the best of the juniors proving up a gold resourec and transitioning to producing, not steady state producers.
how high will gold go?, page-3
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