I couldn't agree more. The JORC announcement we are all waiting for (maybe only 500,000 oz?) will just be the entree on the way to 1.2m oz by the end of the year and 4m oz in 2014.
Using a $1300/oz gold price and 1.2m oz gives a price target for me of $1.20ps.
Using 4m oz gives a valuation over $4ps.
It's cheap, offers good management in an acceptable jurisdiction and cashed up for the medium term.
I couldn't agree more. The JORC announcement we are all waiting...
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