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08:23
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Originally posted by chuk:
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To gauge the potential dilution from here and its affect on a potential sp target, I'm going to assume they satisfy the IDC precondition of showing evidence of raising US$10mill for the balance of capital requirements by raising the full amount through equity. However, we know the company has already raised A$6mill after the IDC approval. US$10mill is around A$15mill so that leaves A$9mill still to raise from these African interests. I expect that it will be done at a higher price than the current sp but for the exercise I'll base the calculations of dilution on a 5c issue price. If it's done higher, all the better.
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I will assume options with a strike price of 10cents and 17cents will be excercised too. Chucky theres 30 million options with a strike price of 5 cents which management and previous managementare are most of the holders. Why when the company needs cash have they not been excercised. Appears you got sucked in at the CR.
