Ann: Orelia Soars to 1.1 Million Ounces of Gold, page-17

This is my first time at estimating the value of an ore resource so bear with me and correct me where I'm wrong.

Gold Price ($AU) = 1600
Cost to mine ($/mt) = 10
Cost to produce ($/oz @ 2.1g/t) = ~800

Mining 16Mt = $M160
Processing 1.08Moz = $M864
Total Costs ~$B1.024

Total Value of 1.08Moz = $B1.728

Profit = $M704

Does that seem fair? I took the processing cost by interpolating historical values for the bronzewing plant, took the open pit mining cost from an online resource ($5.35) but added conservative increase to $10. POG from online resource.

http://www.jktech.com.au/sites/default/files/EstimatingCostsIntheMiningIndustry-June12.pdf
https://en.wikipedia.org/wiki/Bronzewing_Gold_Mine
https://goldprice.org/gold-price-australia.html

Echo tickled my interest close to a year ago at 20c, I'm thankful I didn't buy into it then.
Cheers, I have a purchase order from 17.5c - I'm happy with the story so far.