I don't try to set price targets for gold miners based on NPV or P/E numbers as I've found it isn't particularly useful. I try to use market production multiples based on similar companies to get a guide of potential worth. If it is significantly less than its peers, and doesn't have major risks, then it is worth buying.
Based on GCY's share price I think 42c for EAR would be around the mark. NST bought at 38c or more last time from memory so obviously they think it is worth at least that.
EAR Price at posting:
25.0¢ Sentiment: Buy Disclosure: Held
