future growth and company value estimate

Bass Metals have been very clear about the near term growth opportunities for the Tassie assets.

The base case Fossey EBIT is approx $30m pa.

The reprocessing of the hellyer tails for base metals is able to commence with minimal delay.A supply contract and price on the Zn/Pb concentrate seem to be only holdup.
I would estimate around $10m pa EBIT when this is restarted.

The gold recovery study was very positive,even more so at current Au,Ag prices.Using option 3 with its low operating cost of ~$38/t as a possible goer current prices indicate an EBIT approx $60m pa.

All up that is EBIT ~$100m

Lets say less 20% interest and corporate expense,and 35% tax.

Approx $52m pa profit after all costs and tax.

With a reasonable mine life say 10-12 years (could be more if an elephant appears)What is a conservative PE ? lets say 7.

Ok that would indicate a market cap around $360m or $2+ per share.

Comments negative or positive welcome.