multi bagger ... what do you think

Plan to issue new shares at 1.6c to strategic investor with attached options.

Owns Mg plant in China worth around $50mn (that's about 15c per share).

After new share issue I could justify an SP in the range 5c - 8c being conservative taking debt etc into account.

Current offer 1.1c

Have I missed something or can I expect a couple of bags following the AGM on the 26th November when everything should be approved?

Any other holders out there??

EB