Will MML pay a dividend this year?, page-3

Hello Stlamc

I am wondering how you got PE as less than 4

I may be way off the mark but my understanding of how to calculate the PE you need to used net profit
in your calculations.
MML are going to produce about 100T oz per year (at this stage)
Their AISC are close to $1000 US per oz
Current gold price US$1160
MML are making US $16 a year after AISC.
However ASIC is not their total cost which is AIC
$16 million is not their net profit and after further expenses such as admin costs
their profit is lucky to be $10 million per year
therefore 220 million shares divided by $10 million gives you a earning of 0.045 cents per share

the current share price is .85 cents Australian
0.045 cents US equates to approx .06 cents per shares Australian

This gives me a PE of 14

so can you advise me where I have gone wrong?