newbie so please don't hammer me :)

I am very new to all of this so please don't laugh too hard if I am way off base here. But if FML are going to be producing 100,000 oz per year and they have no hedging and no debt could you conceivably compare them to Lihir Gold??? Now LGL are pouring 1 million oz per year so FML will be doing 10% of that. Lihir also have no debt and no hedging. But FML production costs are slightly higher than LGL. LGL are around $400 per oz from memory and FML are around $550 I think. So could you safely say that the share price for FML should be around 7-8% of LGL price. Which would sit FML at around 23-26c per share. Again if I am waaaay off base please feel free to laugh yourself silly before you respond. But I am just going by common sense numbers.......just looking for some feedback...and please be nice :)