Your numbers look good but they ignore the fact that metal prices are a fair bit lower than they were in the feasibility study (except copper).

The feasibility study indicated $487M in gross profit per year (232M lbs x $2.1 gross margin).

With current metal prices, this gross profit is reduced to $402M in gross profits per year.

This works out to a gross profit of $0.24 / share.

Now imagine we had an operating mine that generated $0.24 per share in gross profit right now. What would our share price be?

Let's look at Teck for a rough comparison. Teck generated gross profit of $1865M in the first 6 months of 2013. Let's double that and assume they will generate $3730M in 2013. This works out to $6.47 / share.

Teck has a share price of $28. This means they trade at 4.3 times their gross profit for the year.

So if we were in production right now we could expect a share price of $1.03 / share. The problem is we are not in production. With current metal prices, it will be 2029 before we have any gross profit. The updated drill results will help the economics but it's going to be a while before we see any profits.