My broker hasn't updated scrip or marcap to reflect the increaded scrip . As I see it there were 15 million existing shares, 30 million shares for Reflective, and 25 million shares in the placement and 10 million options that need converting by the end of June . If I am correct that is 80 million shares and at a shareprice 65 cents a marcap of $52 million (very different from the $10 million marcap quoted by my online broker).
On the face of it that is not a large marcap or scrip total given the resource amount, but my concern is how do they get the mineral out from under the sea floor in bulk quantity ? eg)Melbourne has been dredging sandstone from its harbour "heads" and the ship was hired from Holland for costs in the billions from memory .
I mean no ill will, but really would appreciate an expert to give some clarification on mining possibility, please .
WTN Price at posting:
65.0¢ Sentiment: None Disclosure: Not Held
