Its not the SP that matters, its the MC. AUZ @ 0.08C MC approx...

Its not the SP that matters, its the MC.

AUZ @ 0.08C MC approx $235M
COB @ $1.23, MC approx $143M
AOA @ $0.017 MC approx $7.7m

HIGHLIGHTS

•  Approximately 628 km2 of prospective cobalt ground across NSW and QLD to be acquired.
•  Close proximity to Thackaringa Cobalt Project (EL6622, near Broken Hill in NSW) where Cobalt Blue Holdings Ltd has announced a major cobalt resource upgrade as well as partnership with multinational conglomerate LG International (see ASX:COB announcements).
•  20 kms from Sconi Project in QLD, considered as one of the most advanced cobalt projects in Australia operated by Australian Mines Limited (see ASX:AUZ announcements).
•  32 kms strike of potential host rock of Cobalt Nickel Laterite east of Mt. Cobalt in QLD operated by Aus Tin Mining Ltd (see ASX:ANW announcements).

Greenvale Cobalt-Nickel Project (QLD)
 3 large EPM applications (EPM26813, EPM26814 and EPM26815) covering a total of approximately 276 km2 and strategically located 20-50 kms from the reportedly most advanced cobalt project in Australia (ASX: AUZ ‘’Sconi’’ ML10368).

Ausmon Resources Limited (“AOA”) has been searching for investment in sectors that provides growth potential and in projects which can support capital raising that does not unduly dilute the current shareholders’ value.

Subject to satisfactory results on the due diligence AOA believes the NBM projects satisfy its criteria for investment.

Under the Binding Terms Sheet:

• - AOA is allowed 30 days to carry out due diligence on the projects of NBM prior to decision to execute an agreement for a definitive acquisition of NBM.

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That was on the 9/04/18.

We will know shortly.
DYOR