you never give up big fella. now add your multiples (you keep leaving offthe multiples).
on earnings of $80M p.a (say), eps = 27.5cps; apply conservative 5x p/e = $1.37 (since knwon mine life < 5 years);
not unreasonable for a p/e higher than this on extended mine life and speculation = 10x p/e easy = $2.70 (is up to the drill results now), speculation will take care of the rest
on book value - the same, if you said book value of $150M, but could produce $80M p.a. over 5 years = $450M npv = $1.54/shr
now add on an roe > 15%, and this will attract some visitors to the site. just using WD production
all pending POG > $1200 and extended mine life, and MM becoming a producer. time to buy another gold minow itching for exploration imo.
RMS Price at posting:
$1.21 Sentiment: Hold Disclosure: Held
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