market cap is 208mil dollars, page-46

Everyone is stressing about the number of shares, including the performance shares etc etc.

Scenario 1 - in 3mths time

Working on 500MT at 35% at $2 IGV and 497m shares, gives a SP of .70c or .18c in pre consolidation terms.

Scenario 2 - in 5 yrs time once performance shares and cap raising is included.

Working on 700MT at 35% at $20 IGV (remember they are producing in this scenario) and 1.5b shares (900m + future cap raising into production of additional 600m - just a guess), gives a SP of $3.27 or .82c in pre consolidation terms.

Neither scenario considers a significant increase in the resource which is entirely possible.....

I'm holding.