What a time to be investing in TAOL; with production less than two months away, dilution nearly complete and a share price you can't beat! Just think what will happen from PR's updating and confirming the production timetable and one announcing the end to dilution. Also, with the coming inflation and the weak dollar from the bailout, we should crack the $1K/Oz gold price sometime next year.
I think your 10gms./ton gold concentration is conservative, but for now is a good number to use. If we assume $500 earning/ton and production for 300 days/yr, that would bring the total earnings to about $5.3MM. Applying a forward P/E of 15 to lets say 150MM O/S, I come up with a share price of $0.53 and that only takes into consideration the El Colmilo operations.
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