I"m sitting here scratching my head about the share price at the...

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