$2.78M per quarter profit is based on 6377 oz per quarter. In...

$2.78M per quarter profit is based on 6377 oz per quarter. In other words, the profit is $11.12M per year based on 25508 oz per year production.

So if the company undertakes no ramp up action, the net cash position will be $11.12M which is equivalent to $0.0114 share price (43% higher than the existing share price excluding all other exploration and development activities which may increase the share price further).

If the company undertakes rampup activity and go for 135000/165000 oz production per year which is almost 6 times of the existing production, the annual profit will be minimum 6 times higher so it will be minimum $67M (8.5 times of the existing market cap so the share price will be minimum $0.068). The $67M is the minimum. If you exclude some costs such as the exploration, development, other, etc, the annual profit can reach more than$150M.