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Gold/Mining/Energy : Precious and Base Metal Investing

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To: seventh_son who wrote (30912)	11/4/2004 7:05:32 AM
From: russwinter	Read Replies (2) of 39344

Post 30912 is quite a enterprise value analysis of SPC. What do figure cash flow will be in 2005 accounting for the hedges? Is $30 million US about right, or is it even more? Hedges come off and it's 45 million at today's PGM prices? 4 times cash flow (or 3 wo hedges) for a completed long life mine with large reserves and resources seems more than absurd. Why haven't these guys been raided?

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