the deal is 15M shares plus 65M performance shares after AON spend $35M
thus there is currently 208.5M shares fully diluted (including in the money options)
the fully diluted market cap at 20 cents is $42M for 80% project share, which values the whole project at $52M
plus AON must spend $35M to DFS
the company must like the project because The Company intends to seek shareholder approval to grant a total of 1.25 million $0.20 unlisted options expiring 30 June 2020 and 1.6 million $0.25 unlisted options expiring 30 June 2021 to a Director, Mr Behets, and other key consultants.
20 cent options means the directors must think there is big upside (although only giving out 1.25M of them)
good luck
its too much work for me
Ann: Acquisition of High Grade Tungsten-Copper-Gold Project, page-10
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