At 70c market cap is $526m. CC states annual earnings of $50m for a 70koz operation at current prices. Given that prod'n forecast is now for 90koz we can perhaps say, ceteris paribus, earnings of $65m which gives a multiple of 8x, which is high but I guess reflects bullish sentiments for the sector and the company.
Yes, expansion is mooted to 140koz however I don't believe a timeframe has been set for this (apart from the phrase 'medium-term').
Anyway, to get to $5 requires a huge gold base, which IGR doesn't yet have certified, and indeed far from it. Majestic looks great but we need to see certified results from it to cement significant rises from here.
Of course, in a speculative bull market any price is possible but beware the consequences etc.
Jusy my opinion anyway.
IGR Price at posting:
72.0¢ Sentiment: LT Buy Disclosure: Held
