Find out what 16mm is in decimal inches and convert the decimal inches to mm.
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I doubt that, as your formula don't fit for other gauges.
assuming that we are talking about SWG. 14gauge is about 2.03 mm and 18Gauge is 1.22, But if I use this formula I am getting 25.4/14 = 1.81mm and 25.4/18= 1.41 respectively. And this even fit for AWG.