From the DOCA proposal: 1.4. In consideration for the...

From the DOCA proposal:

1.4. In consideration for the Proponent’s First Loan and
Second Loan, the Deed Administrators will cause a
meeting of the Company’s shareholders to be convened
for the purpose of considering and approving:
 a consolidation of existing shares on issue at a
ratio of 400:1;
 cancellation of all existing options;
 the issue of 10 million ordinary shares to the
Proponent or its nominees; and
 the issue of 10 million options over ordinary shares
to the Proponent.

So MC/.6c = 136383333 shares on issue
136383333/400 = 340958
Add 10m new shares = 10340958
Divide by MC = 126cps

Halve it again to factor in dilution by options = 63cps

Have to ask how much was the MC suppressed because the company looked like it was going under?
Have to expect further dilution to recapitalize the company to enable ongoing operations.

My sentiment and position will remain the same when they start trading again however I will keep an eye on Mt Kare because I believe there is something there.