Comsec is showing current market cap for GPN @ 1.1 cents last sale price is $12Million, across 1,160 million shares ..... it doesnt seems to take into account the 389 million (2011) 2 cent oppies out there, which may or may not ever get exercised - who knows ?
Nor does it take into account the approx 750 million (2012) 0.03 of a cent oppies soon to be issued, which I would assume WILL be converted to shares one day.
Its reasonable to assume GPN will have something like 1,800 million shares (maybe a bit more) one day, which at todays price gives about $20 Million MC.
So the question - does a market Cap of between $12M-$20M (depending on how you want to calculate it) seem high or low ?
For what GPN are about to get into (what is it ? ... I/O and U at Mt Padbury??), my impression is that it is NOT a high MC, and that the SP has legs on it if drilling turns up good IO and/or U grades ?
GPN
greater pacific gold limited
