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To: Secret_Agent_Man who wrote (183608)	7/25/2002 7:08:56 PM
From: Horgad	Read Replies (1) \| Respond to of 436258

I guess it depends on how optimistic your forward looking earnings are based on POG estimates. GG announced for second quarter so I will use it as an example. They made .08. So looking forward .08 times 4 is .32. 7.82 divided by .32 is 24.4. Of course who nows what the gold price will be down the line. But if it is stable GG needs to go to 2.56 to get a P/E of 8. If everybody bails out the market ala 1929, maybe we will get there...