I don't know where you're getting your figures from but current...

I don't know where you're getting your figures from but current cash on hand is 3.9M and around 400k to be spent this quarter. There's a 3.9M payment due by the EOY which will make 7.4M cash on hand at the end of the quarter. The production royalties are a fair way off i would think.

There's approx 300M shares on issue so the MC at 3.5c is 10.5M which makes an EV of 3.1M. Considering this is a seriously cashed up GTT shell I would expect a minimum of a 5M EV which means a SP of 4c+ before the acquisition. When you look at what GTT has produced for other companies that had less cash and consider the stake GTT has in VKA I wouldn't be surprised if they reach 10c+ off the back of the acquisition especially if its cobalt or lithium