My prediction is this stock is up 100% in 12 months time if gold stays at these levels. I think we are over sold because of the PP and now that it is closed, we will move up. It may not be exciting but I think you will see a fairly constant trend up.

The only downfall I see is there cost per ounce being on the high side but with 200k ounces per year in production when they will lack in margin, they will make up in volume. At $500 gross profit over 200k ounces, that gives them 100M. Even if they spend 40M on other expenses, that still gives them 60M in earnings and with a PE of 15, that is 900M in MC or $3 per share.

If gold starts to move up, their margins will move up faster then lower costs producers and we should see this as a benefit to them getting a better share price.

Glorieux