Ann: Appendix 3B, page-3

Fully diluted (options and escrowed) I believe we have approx 95M shares on issue. Whether you include them all in the market cap is up to you. I think hot copper includes those tradeable and those escrowed but not the options, someone correct me if I am wrong
I would always use fully diluted as pretty safe to say all oppies will be converted. Someone smart on here said it is also better when including options to work out the EV, which separates the cash component and values the company's assets more accurately