Sure there are only 50 million shares on issue now, but with $30 million worth of shares to issue to the vendor and at least $14 million capital raising (they state the vendor will get $14 million out of the capital raising...so it will be more just to fund future drilling, there's only $1.3 million left in the kitty).
Expect at least 120-150 million extra shares to be created from this transaction.
Take that into consideration when working out a valuation.
DYOR
ROS Price at posting:
35.0¢ Sentiment: None Disclosure: Held
