I think this is an excellent speculation. It's not a sure thing (is anything?) but at least they will have positive cash flow for a couple of years while they are trying to expand their output.
I guess that's part of the reason the stock is still a microcap - it could be a while before it pays off. But I like the CEO; dilution shouldn't be significant compared to most mining companies this size; and I'm bullish on gold. I am willing to sit on this for a while. And the PPS could start to move on good news, long before they reach their peak production goals.