cbh on a pe of 4

Thought I might start a discussion about fundamentals of CBH.
When you subtract the $280m cash CBH have in the kitty , leaves it on a market cap of only a bit over $200m. They made over $30m after tax in the last half and should make well over $60m in the next full year with production ramp up. that gives us a P.E. of about 4
When you also factor in blue sky with new mines etc , this is beyond ridiculous.
They have reserves for 20 years , so should not be discounted like other short life mines.I remember reading some time back ZFX had this problem .They are in Australia , so no significant sovereign risk like some other countries .
This is the best , lowest risk prospect for the next 12 months in my opinion .