My rough calcs of fair price on the metrics released today is around 32c or $124m m/c. The assumptions underpinning this estimate are production continuing at current rate and it doesn't count any blue sky potential that might be available.
Also, 32c FPO fair price doesn't take into account the 20% savings in mining costs just announced. Naturally fluctuations of the POG and other commodities will vary the sensitivity/sentiment range of the SP from anywhere between 10c up to 54c.
The only thing holding me back is my trust in management. They initially forecast AISC of under $600 in the DFS. Late last year they were forecasting AISC of around $800, if I recall correctly. The AISC this quarter is around the $1100. So, they still need to improve their management IMHO.
Cheers
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