Suppose it depends on what you mean by succesful. If you mean producing 200k ozs per annum the chances are very good. There is already 5 years of pdn there and this increases all the time. If you allow total costs of $700/oz and current price of $1200/0z this would give you $100 mill PA or roughly 1.3c earning /share. Shares would be worth about 7c at PE of just over 5. The more gold we find and the the more we can bring costs down both of which are readily achievable the higher this shareprice will be. If like Newcrest we hit the mother lode start buying your dream house. If gold goes back to 600 she wont be worth any more than she is now unless we can find better grades than we have now and below 600 we may not be profitable at all. So how long is a piece of string
TAM Price at posting:
57.0¢ Sentiment: Buy Disclosure: Held
