The fundamentals are a good guideline for a target pps but there are a few things to keep in mind that we haven't touched on. In reading through SIRG's sec filings, they have stated explicitly that when the operation starts up, they will be using cash capital to grow the company instead of distributing it with dividends. For a mining company, that could obviously mean exploration on their own property but it could ALSO mean purchasing of other properties elsewhere (not necessarily just copper).
When/if we get funding, at the current market price of copper, the operation will be one that creates a LOT of cash. The profit margins are very high. Having a few million in cash after 6 months to a year would give SIRG a LOT of flexibility to expand.
So add the fundamentals to that possibility and you could see a pps of much higher than whatever the current fundamentals say the book value should be. I'm not saying $5 per share but a few years down the road with enough expansion and who knows?! If I get a chance later, I'll copy/paste the part about expansion instead of dividend from the 10Q. I think it was in the 10Q.
