I am not accounting guru but had look at presentation. What they...

I am not accounting guru but had look at presentation. What they are saying is,

1. Ferreira and Vlakvarkfontein Coal Mines generate aggregate EBITDA of approx. A$9m for 6

months to Dec 2011

2. CCL generates unaudited EBITDA of approx. A$4m for 6 months to Dec 2011 or A$8m per annum

3.Vlakvarkfontein Mine sales revenue of US$14m and EBITDA of US$4m

4. Ferreira Mine sales revenue of US$31m and EBITDA of US$5m

5. Penumbra Project Free cash flow est - US$23m per annum

6. De Wittekrans Project Free cash flow est - US$36m per annum

That is by 2013 Conti will be generating $ 76m per annum.

That itself if you use PE of 12 should value company as 1 billion dollar company or SP
should be $2.50

Well that's too high so I expect I have misunderstood something. Can someone point me to
correct direction.