Debt free and SP stagnant?, page-57

It's funny I found a gold mine valuation spreadsheet which can be used to value a company from their mine feasibility report. Used before any mining or production, it noted that it should not be used once in production. Anyway adding the inputs it basically prices the company at current level of $0.039 on the five years of mine life. Playing with stretching out to 10 years at the same 500,000 tonnes at 1.9 g/t really pushes the price up to the that 10c level so on that basis and how people/investment managers price SP value it would suggest if we get mine life extension and plant throughput increase we will see increase in SP to that level. I'm assuming it doesn't allow for pricing in production phase or if dividends paid because it is more subjective to the quarter to quarter production fluctuations and investors chasing dividend payments. Anyway it went someway for me to understand why our SP is rooted in the 3.7 to 3.9c range and how it will be revalued when/if drilling realises mine life/production extension. I will put link to site if anyone is interested. DYOR