obviously dilution is required to acquire a good asset
total shares, including performance, is 995 million
3.3 cents = $30M market cap (exclude performance shares) which seems not expensive for this acquisition targeting 200koz inferred resource at above 4g/t underground or 2g/t open pit combined calculated per a performance hurdle
company has around $2.5M in cash after the raisings plus a possibly $4M in cash if they can get the Chinese money owed for the African gold project or, otherwise, regain the African gold project
obviously the grade will be higher than 4 g/t
Ann: Acquisition of High-Grade Gold Projects in Western Australia, page-8
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