Valuing POS’s 400,000 tonne plus resource at us$11.30 assuming...

Valuing POS’s 400,000 tonne plus resource at us$11.30 assuming 100% recovery.
Approximate calculation. 400,000 x 2200 = 880, ,000,000 pounds of nickel.. So by my reckoning this totals around 9 billion. US dollars.
Therefore assuming the cost of production is at $5 a pound, the life of mine return would be around 6 billion. This for a company with a market cap of around $275 million!
On face value, POS seems a real bargain.
I know Zeb and others will say it doesn't work like that but from a layman’s perspective, there it is for what it’s worth.