"Easy 5 x 'bagger from these levels punters imo"blatant ramping,...

"Easy 5 x 'bagger from these levels punters imo"

blatant ramping, and dreaming.

watso has to admit, that he is a tad surprised at the recent strength. keep in mind, that the turnover , today (when the share price, has been at its strongest for some time), was only $71,000..

the present, fully diluted market capitalization, is about $9.5m (all options are in the money). a 5 x bagger, would imply a market cap of $47.5m !!!!!.

the company has no (or almost) no money - and is living on borrowed funds (the financial results to dec 31 - will show the exact position)

unless, the company can get option holders to convert (maybe some who got "mates rates" at .75c - with a free option) - then the company will need to raise about $2m (through a share issue), to fund the coming years activities - but that will probably not be enough, because the borrowed funds, will need to be repaid.

unless option holders convert, then the company will be looking at issuing about 200m - 300m shares.what if these shares are issued with free options


the best thing that the company could do, is to take the opportunity of the present share price, and try and get an issue out at 1c per share