Am still finding my way around the company and am not sure how you get your 194 million shares?
Current market cap is 159 mil shares * 51c = $81 million
Plus options: 15.2 million
Fully diluted: 174 mil shares (before Hill 50 acquisition)
Now the Harmony (Hill 50) deal:
“Acquisition of Hill 50 from Harmony Gold Mining for a consideration of $65 million in November last year and will take possession on 1 April 2008. The purchase process is due for completion on 30 June 2008.”
•Cash A$30 million •Shares A$20 million •Convertible note A$15 million
At 50 cents this would be another 130 million shares.
My figures to date suggest after the completion of the Harmony deal and the conversion of the notes the Fully Diluted issued shares would be at least:
174 + 130 million = 304 million.
Feel free to correct me.
The 5 million ounce Resource is a very impressive figure. I hope they can convert it to reserves and mine it profitably.
Regards cy7.
MON Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
