With a market cap of $29 mil and with the potential in the earlier stages (600k ton of coal @ a profit of
$50 USD -$64 AUD/ton) this sounds very cheap.
That would be $38 mil x 60% or $22.8 mil or a P/E of 1.27.
This disregards the potential of production growth from other tenements.
Once financing is cleared up , IMO, we should see the sp advance towards 20c or a P/E of about
5.
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