valuation, page-30

mickey, with a resource stock, if the money coming in will increase the value of the asset by more than the dilution then you have a win. this is the key to fwl. fwl value is $15M for 100% of projects. will the spending of $20M result in mc of over $30M? Of course it will, so the shareholders are better off. the figures say fwl should have an mc of $50m right now but with no progress there is no interest. if spending this $20M gets an mc of $60M then fantastic for fwlers. even nose would be happy with that.