It's now on the up although the trades are ridiculously low....

It's now on the up although the trades are ridiculously low. Hoefully most people are playing the waiting game to see if the large scale mining licence is approved.

Looking at projectons of 150,000 tonnes of recovered copper p.a. at bulk discount $5,500 per tonne price. That's gross $825000000 turnover. Looking at around 40% costs to recover and refine that leaves $495000000 before other expenses. With CIRCA 1,234,000,000 shares currently issued that's gross 40 cents per share earnings?

Substantial funds have been predicted to set up mines and infrastructure however with current view can smeone please point out my flawed maths here as it doesn't add up to current share price.

Surely the reserves only being inferred and knowing that bulk cash is required (probably in the form of share offering) coupled with the pending licence results should not equate to this price?

Yes, I am new to this.