If it was not for the Mothae purchase and shares that had to be issued for purchase and set up costs, there would be a fraction of the shares on issue than what is on the register today.
And plenty of cash in the bank, as plenty of the money received and any to be received from Lulo distributions would still be in the bank.
I estimate that the company would have had about 10 million in the bank, a fraction of the shares now on issue, and debit free with a market cap around 100 million based on expectations of revenue profits of about 5 to 10 million from Lulo per year over the long term.
Ann: Seven Lulo Diamonds Sell for A$28.3 Million in Tender, page-30
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