its time, page-8

based on todays 80K PA and assuming no dilution from notes ( which I think won't happen we will have some dilution or cost)the SP should be trading between 45/50 cents AUD based on low 5 multiple based on gross margin per ounce. If they can get production upto 110 K PA and all other factors remain constant then 65 cents. Note that this is no allowance for their reserves other projects just multiple on gross margin of ounces sold ( ie about 1000USD per ounce).

Note other factors Risk ( based on location)
Workforce factors
Government factors.

I'm currently in the queue to buy some more at 36 cents ( only 50K)as it does appear cheap to me. And I also think when we get past 11/11 maybe we know what type of deal managment has struck with Note holders to get them to cash out.