Target $9.36, page-932

It’s been a while since I learnt to read and do arithmetic, so just wanted to check with HotCopper friends that my sums and reading comprehension are still functional..

WHC produces 5m tonnes p/qtr, and the Newcastle thermal coal spot price has averaged about US$350/tonne during the current June quarter, which translates to about A$460/tonne (rough estimates as 20% is met coal). Recent WHC presentations say cash cost per tonne is A$83/tonne. Allowing for some inflation let’s say A$90.
This works out to about A$1.85bn of EBITDA for this quarter. Just the quarter.
$50m of capex gives A$1.8bn pre-tax profit for the quarter. Taxed at 30% gives a net cash profit of A$1.26bn.. for the quarter.
As of this morning I see equity market cap. of A$4.5bn, so net cash P/E of 0.9x.
German and Australian governments have just said they need more coal; it’s no longer kryptonite but an absolute necessity. And there’s no new material global supply unless new mines are funded.
Have I lost my mind, or are these facts and sums correct?

Thanks