silver commissioning - ahead pf budget ..., page-38

After reading latest reports : if realised silver price is $37 / oz and cost near $15 / oz and resources of 15 M oz and company life 5 years (skip headging for now):
- it is then 3 Moz / yr which is $66m / yr net profit ie 66m/790m = 8.6 c / share which yields now P/E ~= 10.5 c / 8.6 c = 1.2
- for SAFETY margin SLASH the above figure by 50% (say silver plummets to $25 or so OR resources will be closer to 10M instaed of 15M) and we get P/E = ~ 2.5
- This is very, very low P/E figure
- so in my opinion from the above perspective all looks very promising

I do not know about AYN management much - must find out why some on H.C. say it is poor. If it is reasonably good though I might consider buying into AYN.