What sort of P/E Range is normal?, page-2

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Hi all

I've done some basic calculations with lots of assumptions to try and come up with an EPS value and hence a possible share price. The sector P/E ratio is 17.18 but I was wondering is this a reasonable figure to use? Figures used so far:
Gold Price AUD $1,700 per ounce
Total Costs AUD $1,000 per ounce
Tonnes per Annum - 40,000
Head Grade - 20 g/tonne
Less Singapore Coy cut - 24,000g
Our Interest 70%
Would be $13,580,000
Divided by total shares (inc. recent issue) of 295,982,146

Gives EPS of 4.59 cents
By a P/E of.....

Happy for it be pointed out if I've missed the glaring obvious but trying to keep it relatively simple.
Cheers