why so low

I guess we are all looking for the 10 baggers and after reading the announcements regarding the agreement with the Indonesians on coal prospects plus what looks like being a very good assay report on Unaly Hill with their Magnetite prospects I don,t understand why the price is so low.There are only 372 mill shares out at the moment at 1.2cents and when I look at other Companies with over 1 Billion shares and higher prices and don,t appear to have the same prospects I,m puzzled. Before I jump in and buy some is there something I,m missing apart from a possible placement?