PIO 10.0% 1.1¢ pioneer resources limited

Ann: Sinclair Pollucite Shipments Commence, page-14

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     I get a slightly lower net figure because the mining costs ($8mm) were a little bigger than the Cabot loan(apx $6.7mm)  I think (?) royalties are applied to the gross figure, so apx $1.8 mm. Gives me a tentative net proceeds of apx AUD $12.45mm.

    Or to look at it a different way, approximately half our market cap in cash with saleable commodities sat waiting for a buyer.

    I am no accountant, so please excuse my calculations if they are in error.

 
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