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Goldcorp Inc. Message Board

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  • MINCE38 MINCE38 Apr 11, 2006 3:56 PM Flag

    you know metals going up more

    First of all, if you have time to sort thru old pennys, you need to get a hobby. -) But seriously guys, do the math. They announced they will mine 2 million ounces of gold at a cost of $150 for 2006. So lets conservatively say gold averages $550 per ounce for the year. Thats 400 profit times 2 million = 800m in earnings.(not cash flow!) So with a market cap of over 9b thats only average for any big gold co valuation. Why should this puppy go higher unless gold goes thru the roof and in that case why not just buy GLD and not worry about salaries,warrants,dilution and accounting tricks. I mean this stock would be a steal at 18 bucks. But at 30? It seems fairly valued, no? Anybody have any thoughts?

    Marc

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