I think you read it right @Tibbs.
If anything you were conservative, they will have nearly $5.5M in the bank and 49% of the Highland Plain Phosphate Project, with no funding commitments until post-BFS.
Market cap currently $3.5M.
If the option is exercised POZ would have to be the best value Phosphate play on the ASX.
Shame there is not a little more liquidity, one to watch...
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Ann: Highland Plains Phosphate Grant of Option-POZ.AX, page-3
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