Even at 150kozpa, the multiples for this stock are ridiculous. I know Les has commented publicly about this. OK so a lot of gold stocks have sub 10 p/e's, but this is ridiculous.
If sentiment towards gold changes such that people expect a price above 1600 for the forseeable future, then people will also start doing the maths: if you're clearing 1000/oz and you mine 200koz/year, even including life of mine arguments and the like, what should your share price be?
SLR Price at posting:
$3.03 Sentiment: None Disclosure: Held
