Thanks for your reply BB and picking up some flaws in my...

Thanks for your reply BB and picking up some flaws in my calculations.
As for the 5mtpa that has come into play since the acquisition of Eastern resources which has working mines and will substantially lift the JORC and mine life. Im expecting 120 million tonne + which will give a mine life of 20 - 30 years.
After speaking with my broker he doesnt think there will be any futher dilution and a second off take agreement will fund the mine.
So assuming a $1 billion profit with a tax rate around 30% giving BTU $700 million with 600 million odd shares per annum. So around $1 eps on a pe of 10 could give a potential $10 share price. Of course everything would have to work out perfectly for that to occur. Im just trying to show the potential BTU has and if it doesnt reach these lofty heights it will still be a lot higher than now.
I think your $1.20 - $1.50 price target near production is very conservative ( could be there next week ). We are waiting on another off take agreement, mine approval , environmental approval etc all of which should move the sp and take any doubt out of the project.
As for the Greenies of course they will make us jump some hoops but I dont think you are seeing the big picture here. The Pike River disaster has devastated a multi generation mining community. These men are out of work and eager to stay and work in their town. Do you think their families or the NZ government want them travelling to Australia - Hunter Valley to work and pay Aus tax? I dont think so, I think it will be fast tracked to get their lives back to normal especially as the mine is open cast.
Finally the action yesterday makes you think a take over may be mooted in some circles. That seems a little premature without all the approvals in place but with the floods driving up coking coal prices its a possibility.
Of course these are only my views, but I hope there right.

Good luck all holders

gmc