This is the 10year share price vs 10 year gold Based purely on that it seems like a fair price at present. So future looks highly dependent upon the gold price and the economy. We are probably prime for another GFC in the next few years, if that happens the price of gold is going to beat the previous top, and that could possibly bring a several year long tail up trend on the share price. Downside? Not a lot with such a cashed up debt free company unless the gold price plummets and the recent rally ends completely.