Is a Permit Already Discounted? My sense of it is not by a long shot. Our reference point is from several years ago at $1300 gold. BF made a generous participation offer to the Prez which was rejected and here we sit. But the economics have changed dramatically.
Using crude round numbers, if gross operating margins at the old price were $200 per oz, with the same costs that translates into $700 per oz today.
So looking to get back to the old 50c per share as a target is way too conservative. Just because the shares have doubled in the past month does not mean that they are now expensive.