New target SP, page-3

Yeah great point U3962521... Thats why I have used only a $600 profit per ounce. This leaves the predicted cash costs of $500 - $600 per ounce plus an allowance of $340 per ounce (or 20%) to Cartesian and still a little more. The recent CAP raise in my opinion will give us the necessary capital to improve efficiency and reduce costs further. It's no use getting excited and claiming $1000 profit per ounce that's for sure. This stock has a clear and precise conceptual pathway to 25 cents IMO providing HM3 results for the high grade ore are 24 gms / tonne or greater which I believe they will be. Any movement north from there will be circumstantial and dependent on monthly results moving forward.

Once HM3 recovery grades are released this will be all that matters along with cost levels.
This can potentially be a $1 stock no doubt but there is much needed for this to come to fruition. I do believe however and have mentioned in the past that once our market cap reaches circa $300 million then we may well benefit from a higher p/e ratio due to institutional investors happy with a p/e of 16 on their investments. The other thing which could push this North on short notice is an acquisition / take over attempt. There is a lot of jostling at the moment for assets in the gold space and larger companies looking to improve their balance sheets and p/l with takeovers of near term / infant producers. Recently Primary Gold id just one I can think of in this situation.

All in all plent of upside to 25 cents then a steady climb either direction depending on results. We wait.... then wait some more....... then wait some more.....
Patience is the key!!!!
Rb