Let me try another way to answer the original question. If TAM...

Let me try another way to answer the original question.

If TAM can produce their forecast 50K oz pa at $500 profit margin (very optimistic), they will earn $25M profit per year before tax.

Because there are 3,500 million shares, each share will earn 0.7 cents (no including depreciation).

After tax, each share for an individual will earn 0.45 cents.

If you buy a share at 5 cents, your annual return on your investment is 9%.

However, TAM will be lucky to earn 0.4 cens for each shareholder. If the share costs 6 cents, the return on your investment is 6.67% per annum.

At his rate, it is safer putting your money in the bank.