Hi The Mole,
Thanks for correcting me. I was a bit confused as to when and when not to use US Dollars, so thanks for clarifying everything.
Also, regarding the figures I used, I was also using conservative figures. The information I have, is that they could be producing up to 150,000 ounces p.a.
So if you use this figure, combined with the fact that I anticipate gold is heading to AU$2000 an ounce. You are looking at an annual return of $54m, which equates to an annual return of 6.3c per share.
Based on 8 times earnings, TAM should be in the order of 50c each.
On another note, a big buy went through first thing this morning. Someone bought 3.5m shares @6.5c = $227,500
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