The total potential cash to be raised from the current issue and the exercise of the options (2 cents to 10 cents)by June 30 2010 is $27.7 million less issue costs.
This exludes the potential $4.592 million from the equation related to the exercise of the 15 cent options and any exercise of the 3 cent options to be issued.
Given the number of individual projects that make up the Lance project there would appear to be some flexibility btw PEN going forward in their own right on some and potentially joint venturing others.
potential cash injection of $27.7 million
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