coal seems cheap at 10c a tonne

Mt Mulligan has 500 million tonnes of coal as estimated by CRA and others and MNM as of today has 100% ownership and control over this deposit. They also have announced today that they have a draft land use agreement in place with the traditional owners. To me this is very positive news and the price of approximately 10c per tonne based on current $50 million market cap for MNM makes it look cheap in comparison to its peers with similar scale deposits.

Given that the entire base of the mountain appears to be made of one large coal bed one would think that the prospects for coal seam/coal bed methane would be very good as well.