Hi guys, I'm not an experienced investor and I have no...

Hi guys, I'm not an experienced investor and I have no experience with mining stocks. I'm just wondering what the outlook for something like FAU is?
I did some quick maths (and given I know nothing about gold mining I could be way off the mark) so hear me out.
At the moment FAU has a market cap of 18.77m @ 1.7c so there's roughly 1.1b shares going around.
Lets say they begin mining and drag in around 100k ounces a year at $1000 and ounce (first off is that even feasible) so that's $100m a year. Right so to be rated at a $1b company, @ $100m a year it would take approx 10 years of operation (is there at least 10 years of mining on these sites?). So with all that said would it take all of the above for these shares to reach $1 a share?
I could be way off and probably am but I'm definitely interested in investing in this project and have always wanted to invest in Gold but honestly I don't really have a great idea of whether it's a solid investment opportunity or not.