It is 40million but 20mill are owned by TRF in escrow.
It is for two years so they will be shown on market later this year from memory.
I doubt TRF will be selling anytime soon after they come out of escrow.
The issued shares will show 40mill later in year.
Use 40mill x share price to calc current M.Cap.
Hope this helps.
just a quick question..., page-2
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