Final Countdown, page-49

Are you perhaps forgetting that GMM's profits also now add to our bottom line?

Merging with GMM is a doubling of GXY profits for 1/3 of the shares.
Hopefully you haven't made the mistake of not realising that all older documents of future profits are now out the window. We just recovered the lost half of Mt Cattlin and are now set to retain 100% of SDV, rather than sell off equity.

We haven't had such a low-ball estimate from anyone since about February.
The most recent Strachan valuation added a tiny bit for SDV and nothing for James Bay and still came in at 64c counting only 50% of Mt Cattlin's profits.

If you go on any reasonable EPS for Mt Cattlin then as we move steadily towards 2017's 200kt/year then $1/share for Mt Cattlin alone is entirely reasonable.
Even this is on the conservative side.
James Bay and SDV become profit multipliers as they move into production. It's reasonable to assume a large upside being steadily priced in as SDV/James Bay becomes de-risked.

Sorry ma'am/dude but I think you need some new batteries in your calculator or need to trawl back through the old announcements and valuations to find better basis for your estimates.

I can send you a good list of links to them tomorrow, if you like.