What I think is $0.13 eps estimate for 2009 at a conservative 5-6x p/e (typical for miners, and really – very conservative) will make CML 80-85 cent stock.

This was updated after Crowflight’s hedging announcement.

All of the above estimated assuming they don’t prove up more resources (which they should – meaning, mine life will be expanded and a higher p/e should be applied) and nickel stays low.