RE: Does anyone actually know what the target pricMy 2011 target price using fully diluted share count and an operating cashflow multiple of 8x:
($1300/oz - 775/oz cash costs) x 130,000oz = $68,250,000 OCF
$68.25M x 8 / 237M shares = $2.30
Of course cash costs could be lower, production higher, and the multiple higher. The 200koz run rate isn't expected until sometime in 2012 with $650/oz cash costs, but that would put the stock at a $4+ valuation all else held constant.