can anybody confirm

I'm referring to Investor Presentation as of yesterday, 14.07.11.

For Kangala mine it says:
Target development:
* Targeting 3.0Mt pa production rate Commences H2 2011

I can't find anywhere to confirm production is starting in second half of 2011. I called the company but nobody is available. May be Monday, I was told.

Can anybody confirm that this is a true statement?

Then I start calculations:

3MT at net selling price (conservative for Thermal) $150/t
Thats $450mln / 160mln shares approx $2.80/s. With PE of 6 that is equivalent to $16.80/s

That does not seems to be right.