Why is JBM still so relatively cheap...what am I missing....

Why is JBM still so relatively cheap...what am I missing.
Earnings and profits are growing at huge percentages every 6 months...JBM looks like it will make well over 100 mill for the next 12 months...its pe will be around 5 ish then.
Its got an exploration program underway with a number of targets.
There is plenty of life left in cosmos.

What if JBM heges all their prodcution around these levels...surely we'd be looking at profits of near on 150 mill per year and dividends around 60c annualised.

Can anyone explain why JBM hasnt run up further??