"If CTO can reach their targeted production and costs, when...

"If CTO can reach their targeted production and costs, when they're making 250,000 ounces a year at say $350, that's $162 million a year EBITDA. A PE of 10 suggests a share price of about $2.46"

Again, this doesn't make sense imo. What would CTO's gold inventory be valued at? In that scenario we could easily be looking at millions of ounces of reserves and 20 million ounces or more of resources.

So STOP. STOP.

Stop valuing resource stocks like retailers. It's like comparing chalk with cheese. To use the same valuation methods DOES NOT make sense imo.