Shares on issue = 224m
Options unlisted = 28m
Cash $45m
Options exercised $8m
252m shares diluted
$53m cash diluted
21c per share cash backing diluted
The market has a current diluted value for Vulcan of around $8-9m ex cash for Kylyhlati and Kuhmo.
Kylyhlati is currently valued at A$160m according to DFS with likely resource upgrades.
anouncement out, page-18
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