RE: RE: What must happenMinor point but keep in mind in such calculations that the profit of the mine is not the same as the profit of the company. As far as I know that $412/oz extraction cost only includes expenses directly part of the operation of the mine. The CEO and other executives are not there swinging a pick axe and shoveling ore so their salaries are not part of the $412/oz. Indeed there are other office salaries, travel expenses, legal costs, stock exchange charges, legal and accounting expenses which are on top of that $412 cost if calculating the profit and P/E ratios for the company. That being said these extra costs are fairly low for this company, probably only a few million and with the high mine cash flow do not significantly impact your calculations. In other cases where the cash flow from a small mine is fairly low, the mine could be very profitable but administrative and other expenses could make a company itself unprofitable.