PE Ratio for MNM in the future??, page-8

Gold hit AuD$1700 oz tonight. After being $1450 just three weeks ago. Little action or movement with the sp in that time. So should re-investigate potential p/e.

IMO after checking out the Norton mine and previous mining rates and jorc e.t.c. that IK has underestimated the Norton mine (probably due to new tougher jorc reporting standards) and we should see 10,000oz+ pa.

Morningstar is capable of 30,000 oz pa and with an operating processing plant could earn some more revenue tolling nearby gold mines output.

At this level of gold price, Granite Castle is a real chance of start up as well within twelve months. Again this mine should be like Norton, shallow open cut (but lower grade) and producing 10,000 oz pa.

So the co's global annual output of 50,000 oz at costs of $1200 an ounce (much higher than stated by co ann) would give $25 million profit pa. Which is about the same as the expanded merged capital of Mantle/Imbl.

Costs should come in lower and gold could go higher.

So all in all, a much undervalued company IMO.