Avocet Mining : Going for Gold

energyi - please could you elaborate a little more on post 534? Is it your feeling that post 2004 the cost per oz of the Malaysian operation will go up? The house brokers certainly seem to be of the opinion that in the near term (to 2004) it would fall. You know much more than I about the physics of mining so would appreciate your comment.
Thanks all for your comments re: my early post - as you all no doubt realise thats an 'ideal world' post but it doesnt really rely on the POG doing much more than hold its own for the next few years. We will see - my own strategy will be to gradually accumulate more of these shares as the story unfolds. The next potential 'green light' will be their next survey data from Malaysia, forecast to come early this year; if they can demonstrate there is another say 200-300,000oz available for mining then the picture becomes that much more bullish. Anyway
For what its worth, based on after tax profits and a present valuation of £18.5m I would say that the shares are on a PE of between 10-12 for 2002 as a whole (depending on whether you use the previous brokers forecasts or whether you are a little more optimistic), and a conservative forward PE for 2003 as a whole of between 5-5.5.

Happy New Year to all.