a$13 Share price would put our market cap in around 3.25 billion, about the same as Osisko which also has a large tonnage low grade deposit in mining friendly Canada (QC).

However it has 11 million ounces of proven reserves and is already producing. A lot has to happen to our PDG before we get to that stage. It also assumes there would be no further share dillution which is quite unreasonable.

The problem I have with fibinacci extentions is they neglect share dillution. While Fibs can work well with most larger companies which remain fairly consistent in terms of Share outstanding and thus market cap a junior explorer which has no revenues will dillute themsleves thus making predictions over the long term with fibs very difficult.

In 2007 PDG (kodiak) had 88 million shares out. Today we have 3 times that at 253 million. Predicting price extensions on a price chart that excludes the dillution factor is moot.

However, if you take the dillution into account a share price of $4.33 ($13/3) is reasonable and attainable in the medium term and would require about 8 million ounces going into a full feasability (IMO)