number crunching

I"m sitting here scratching my head about the share price at the moment and thought I'd do same back of the envelope numbers on QOL. This is what I have come up with, any ideas??

Mine throughput 150,000 tpa
Moly content .4% = 600 tonnes = 1,200,000 lb
Current price $33.50/ lb = $40,200,000
Cost of production = $75 per tonne= $11,250,000
Profit circa $29,000,000 p.a.

And it has a market cap of $21,000,000 ?? Are my numbers reasonable or am I having a brain fade ? I am aware that they will most likely have to raise some more funds but does that justify the current price ? Also consider that it is a given that the life of the mine will increase. And that is not even taking into account Mt C and Banford hill

Weird