All pure guesswork Nasa . This could be way off .Rough figures...

All pure guesswork Nasa . This could be way off .

Rough figures .

450m shares .
280m options .
100m shares to vendor
100m shares raised at 2c = $2m , underwritten as we know .
Maybe up to half options ( say 150m ) converted .. $1.5m .
Cash would be circa $4m .
Consolidated undiluted cap of $16m .
EV $12m pre-drill .

If the SP can get higher on new lease acquisitions and class appointments then it will be less dilutionary and they wont have to give options out to entice conversion .

Dimaz .. If you own this and don't know that I am bewildered .