profit more than market cap, no brainer, page-157

I can see why they want that niche market @40% of disribution. From reading the article in insidemining.com (links above)they won't have direct competition for ~3 years as they hold such a good location on the rail to supply. if they were to just export it would look like this;

IKW has high quality with around 6800-6900kcal/kg. 2Mt/year ROM with 63% yield brings 1.25Mt/year saleable coal.

~~~PBT=for export grade (60% of business)
production cost = ~350R/t+200R/t for rail/port = 550R/t
Price in report suggests buying 630/t-700R/t.

Say 665R/t-550R/t = 115R/t
115R/t x 1.25Mt= 143.75MR
IKW owns 70% so;
143MRx 0.7 = 100.65MR
So in the current climate ~$US 10M profit
Am i on the right track here?