2 years for a nearly 200% profit ain't exactly pessimistic...

2 years for a nearly 200% profit ain't exactly pessimistic champ2003.

I can see a few critical issues that management need to deliver on for 2012 to restore some of their shattered credibility:

1. Need to maintain profitability at Vlakvark and Ferreira
2. Need to keep to Pen schedule
3. Need to stop making unrealistic promises like "just beginning our BFS, first coal within 12 months!"

If they can deliver on those three points, maybe we can justify maintaining a SP of 30c+ by the end of the year.

A company like this can only justify a significant forward valuation premium if the market believes it can stick to its forward development plans. This company has singularly failed in this in almost every respect since the start of the year. I wouldn't say it deserves a price of 56c on its 2011 record.