pe of 1 moving to a pe of 0.5

Is this right ?

247 million shares fully diluted.
115 million rights share issue at 32 cents.
211 million placement shares at say 35 cents.

Total of 573 million shares on issue at say 40 cents is a market cap of approx. $230 million.

2014/2015 2 million tonnes of hard coking coal at US$225 a tonne less running costs of $110 a tonne is a profit of US$230 million.

In 2015 plus they are planning on 4 million tonnes p.a. which would mean a profit of US$460 million p.a.

The company has stated that the running costs will be up to 20% less in the later years due to the increase in volume.

Bathurst's hard coking coal is the purist in the world and could also attract a premium.

No debt.

Wow !