Are you sure on your statement "that producers typically trade at 10 times revenues" ?

Can the gang please contribute based on their present day experience with producing miners in their portfolios ! (Revenue is total gross income !!)

I like the numbers you present Truck. I reconsidered your logic with a pessimistic perspective as follows:

Assume 250 tpd, (Assume 160 te / day * 260 days /year = 41,600 te / year) gold at 2k, (Gold at $1,500), silver at 40, (Silver at $25) per, based on our 2 grams per ton gold (41,600 te * 2 gms = 83,200 gms / 31 gms/troy oz = 2,684 oz * $1,500/oz = $4,025,806 revenue from gold) and 220 of silver, (41,600 te * 220 = 9,152,000 gms / 31 gm/troy oz = 295,225 oz * $25/oz = $7,380,645 revenue from silver). that's in the general region of 100K per day (31.25K per day) revenue or 36 million per year (11.4 million per year). Does this seem optimistic says the cat. Sure. OK. Cut it in half and you are very close to 10 cents a share in revenues. ($11.4 million / 200 million shares = $0.057 a share in revenues) Given that producers typically trade at 10 times revenues (5 times revenue), that puts you at a buck a share.($0.285 per share)