General discussion, page-1418

I am interested in any comments on calculations to a share price for KCN.
I have come at this from the published info (as I interpret it) being the existing plant will have a 5M ton pa capacity on the ore body having a 65gm/T, gives, if one gets all of the gold, 3.25M gms. I assume we still talk in 'troy ozs' which at 31gms/oz equates to about 100,000ozs pa.
Now if one assumes an all up margin of $A1000/oz that should give a profit of $100M.
Of course, we now have, what in my opinion, is the ridiculous situation of companies using all sorts of measures for profit under such names as "Sustainable Profit" or "Long Term Profit" or such like.
However, if we take the $100M and reduce it to $/share we get 45c/share.
So, the question is, what is the appropriate P/E ratio? Looking at the ASX, they seem to range from 10 to 24, with WAF which is ramping up production in Burkina Faso (read Sovereign Risk) at 6.
With a P/E of 10 the share price would be $4.50.
Please point out the flaws in the above.....be gentle!