RE: Nothing has changed!I'm struggling to understand on what basis any analyst had Timmins as a sell rating. As far as I can tell, there doesn't seem to be any problems with this company, only the stock price, which is most surely a temporary phenomenon.Based on my conservative calculations for 2012:Gold - $1,500Operating Costs per ounce - $650I see 2012 at ~0.50/share and CFPS at ~0.40. Value the company as you wish, but with a fairly conservative 7x CFPS, we're looking at $2.83, or at 10x, you're looking at $4, which I feel would be a fair range for this company to trade in for 2012.If gold goes to $1,800, range becomes $4.16 - $5.94.Can someone tell me what I am not taking into consideration here that would make the current valuation look like anything other than a bargain? No debt, No hedge, growing reserves, exploration properties etc.GLTA,Sampo