Oz
How do you arrive at 16cents net cash backing per share.
Current shares on issue 396M (which I assume includes the 45.3M shares issued @ 22cents).
Cash as at 30th June 2012 as per quartly report $19.5M.
So $19.5M less Sept qtr spend $8.6M (as per jun qtr report) plus the $9.9M gives $20.8M cash
$20.8M divided by 396M shares = 5.2cents cash backing
They also had net payables of $11.4M on the balance sheet at 31st Dec 2012 so whatever is still outstanding from that should also be deducted from the 5.2 cents.
Ann: Capital Injection update , page-49
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