Mitis - If all options over the company are exercised there will...

Mitis - If all options over the company are exercised there will be approximately 3 billion shares on issue. At todays price that would equal a market cap in excess of $30M, however half of that MC would be covered by the money raised through exercising those options.

As for the name Padbury Mining - I would'nt think it comes from Mount Padbury as such, but more from the Padbury geological group which contains the Robinson Range, Mount Padbury, and Horseshoe formations. That is how companies like Fortescue, Brockman and Hamersley Iron got their names in the Pilbara, and many others.

GPN has approx 100KM of strike length, with results published for maybe less than half. Obviously not all of that will be mined but with any luck they will find an area or two that stacks up. Even 5KM if the grades and depths are right, will be enough to them to get up and boogie.

At the end of 07 I posted some stuff on their Iron Ore including a historic Hematite deposit defined 3 decades ago. This area is 5-6KM total strike the company is yet to publish any results from this area. It wasn't even on their proposed drill program.

That particular area of interest I speak of forms part of the Robinson Range which is predominantly owned by Midwest (SINO steel) and any deposit which is on Padbury's tenements will certainly extend into their tenements. This is backed up by published sampling they did in which the defined a priority target "K" approx 1-2KM from our border.

In other words....there is more upside to what they have already published IMO.

Just remember, no one will benefit until they tackle it with intent....and then the numbers have to be there.

Yes, there are other neighbours, such as Cliffs and FMG, but they are merely making their prescence known and taking up strategic positions IMO.