Ann: First slurry through new CIL gold plant, page-2

Am i missing something here, or is this grossly undervalued at the moment.

"As the open cut Pearse ore has a Lower Bond Work Index than underground ore, throughput is expected to exceed the 300,000 tonnes per annum achieved on underground ore. Gold production is expected to be around 30,000 ozs per annum with C1 cost at Mineral Hill ranging between $500 and $600/oz of gold."

At worst case cost of $600/oz is roughly $800/oz profit.

Giving a per annum profit of $24,000,000

Is that correct or am i way off the mark???

I am still very new to this