drilling started at peak hill, page-14

HI Guys, I have asked about the time frame for the peak hill result but was told its hard to confirm. But Denis seem to be extremely confident about peak hill, thats all i can say but then all directors are confident about their mines anyway. Anyway, just a little calculation to perhaps boost some confidence in the investors.
500,000 ounce gold X $700 per ounce/ 32M shares = $10.94 per share
Assuming mine last 10 years, we should get around $1 gross return per year. After expenses, i think the share should be worth around say $0.50 perhaps if this thing is a success? Anyone got a better way of calculation? All i get from Denis everytime i ask him is that they got the gold mine at $7 per ounce leaving the rest profits. Perhaps this is the only way to calculate the worth of the peak hill project.