The shares are issued to the previous owners of the coal deposit (for the coal deposit).
They sold the coal deposit for 2,937,500,000 shares (with a value at 8c) for $235M.
The market is now valuing this at about $660M (at 22.5c).
Either this was the purchase of the century (at $400M below value), or the market (and Fatheads) have NFI.... I go for the later....
EPE
enterprise energy limited
