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Judging by their Q3 results I believe that they can easily make $.60 to $.65 per share once the hedge is paid. At $2.30 that gives them a price to earnings of about 4. Crazy cheap. Imagine if they manage to get OLE and start cranking out close to 400,000 ounces in a year or two. Even after the dilution that TGZ would incurr the combination with OLE will result in dramatically higher earnings especially if they manage to keep costs under $650 per ounce.
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