It's 75mill current shares and about 17mill plus about 1 mill for performance shares to come. I don't think it's more than 95 mill maximum.
They say they are close to getting bank debt facilities late in the year if project gets green light.
First two shipments will be 30k tonnes, then if they prove to the SA gov't that the process is environmentally sound and no issues with locals, they will be using 75,000 tonne ships for the next year or two.
We are one MLA away from being re-rated, so get your shares ready on the sell side at about 90c.
I will wait a bit longer for the real payout.
TYX Price at posting:
57.0¢ Sentiment: LT Buy Disclosure: Held
