updating the price performance

Hallo together,

after that jantimot from Hot Copper made attention.
that for 2011, with about half a year of production simply can not expect a P/E ratio of 5.

I have also asked me again for the great masters TimLuca and MFC500. Both confirming the view of jantimot.

Quote MFC500
The P/E is always based on the result of a year. With such considerations or calculations should not work with any transition scenarios (such as the ramp up phase at the commissioning of a mine or the execution of any tailings) will be used, but the "normal" scenario.

Therefore I expect once the full year performance in 2012 and thereby pro with the optimistic variant of 2 million / oz silver production year. The price of silver at a

$ 30.00/oz, $ 35.00/oz, $ 40.00/oz and $ 50.00/oz.

The sake of simplicity, A $ : U.S.$ = 1 : 1 assumed.


2 million ounces at a margin of ........ $ 16.5
($ 30.00 ./. $ 13,5) = 33 million profit

2 million ounces at a margin of ........ $ 21.5
($ 35.00 ./. $ 13,5) = 43 million profit

2 million ounces at a margin of ........ $ 26.5
($ 40.00 ./. $ 13,5) = 53 million profit

2 million ounces at a margin of ........ $ 36.5
($ 50.00 ./. $ 13,5) = 73 million profit


Silver Price = 30 $ / oz

33 million : 1.3 billion shares = $ 0.025384615 x 5 P/E =
$ 0.127 = 0.093 Euro

Silver Price = 35 $ / oz

43 million : 1.3 billion shares = $ 0.033076923 x 5 P/E =
$ 0.165 = 0.120 Euro

Silver Price = 40 $ / oz

53 million : 1.3 billion shares = $ 0.040769230 x 5 P/E =
$ 0.204 = 0.149 Euro

Silver Price = 50 $ / oz

73 million : 1.3 billion shares = $ 0.056153846 x 5 P/E =
$ 0.281 = 0.205 Euro

The options I have now dropped from further consideration, on the other hand, are certainly the other silver findings (JORC messages) counter. The copper findings and the possibilities of the many other areas are also well outside stayed before.

Greetings

LSS