RE: Is it possible for this stock to hit $20?You bet it is!
All we need is 10 million proven ounces (easier said than done).
In a quick caculation, 10 mill oz @ $600/oz = $6 billion
6 billion/ # of shares (roughly 130 million) equals about $46/share of PLE
However, there is the cost of drilling, mining, and a hundred other variables and caculations, but even it costs $300/oz to drill, mine, etc. That is $24 a share.
That is a very rough calculation, but in a nutshell, what PLE needs for $10-$30 a share is a huge proven gold find, hopefully at least 5 million oz. It would also be nice if the POG is up near $700-800 per oz.