At the end of the day NPH, the two projects will be worth approx...

At the end of the day NPH, the two projects will be worth approx 7.8 million (Undiluted market cap)each. I just added 22 million shares and the extra cash into my spreadsheet but not the new MD options. There is no extra valuation for exploration ground or inferred larger/lower grade deposits.

I have updated Cygnet Target (Report is on Cygnet homepage) to include $2.5million extra cash and 135,276,250 shares (Assume 22 million shares via Capital Raising). The new DCF target would be $0.425 and Cygnet pointed out that this was only based on Cacata. So far cacata is basically half the NPV of Kanzi.