some sp calcs just for fun, page-6

Hi Sid,

Here's how I see it with the 4mill oppies:

Martin Place securities could sell them on market at let's say 1 cent - a scrappy $40k. Though certainly, already a better deal than when they were first received.

They could exercise them at some time in the future - before expiry. That will cost Martin place securities 100k - a reasonable amount of money. Something I DON'T think they would do UNLESS CFR sp is well UP.

BUT, let's just say that CFR DOES come up with good tonnages of IO, PLUS some good TIN/GOLD results and they are re-rated to around 8 cents. Martin Place would then be a substantial 200k plus in front AFTER exercising costs.

So, imho they are well placed to speculate on the likelihood that these projects could come through. Just if this kind of scenario came to reality - they could make a profit almost a quarter the value of the amount they raised for CFR!!! NOT BAD!! That's of course in addition to the 5% fee they got for the process.

Of course the exercise cost of those oppies would effectively re-pay CFR the initial cost of the placement twice over!!

I think someone suggested some time back that management see the need AND potential to get the sp up into that kind of range. I'm sure Martin Place are well aware of this potential.

As has also been noted before - it makes economic sense for the company to bring projects forward to build their market cap so as to benefit from the exercise of their oppies. I suggest they are working their butts off to achieve that goal of re-valuation!

Others may see it otherwise, just a perspective.

Cheers