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21/09/22
12:56
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Originally posted by FireFinchASXFFX:
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What Camban said. If this proposal goes through and the market cap stays the same (it wont, it will plummet) then that 12c of value in LLL shares right now will equate to about 4.2c after the dilution: 20c a share * 1.181 billion shares on issue = current market cap of ~236.2 million 236.2 million market cap with 3.394 billion shares (this will be how many are on issue if this all goes through) = ~7c a share 12c at current value = 60% of the 20c share price. 60% of 7c a share = 4.2c a share. This is a truly terrible deal. (Someone feel free to correct my maths if I have over looked something)
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To put this more eloquently. FFX own 210,936,289 LLL shares. At LLL 70c a share that is ~$147.655 million. With 1.181 billion SOI each FFX share has a ~12.5c stake. With 3.394 billion SOI each FFX share has a ~4.35c stake. A rough loss of about 65%. Terrible.