Ann: Sale of all mineral tenements, page-133

Just to add to the above - this was my take on the announcement of the split I posted on 12th April

My take is as follows..;

The new company = iTech Minerals

Archer will receive 50m shares

Current shares on issue approx. 225M (excluding any outstanding company options)

50m / 225m = .22 shares in iTech for every share held by current AXE holders.

Company to raise $5m @20 cents = 25m new shares + 50m shares to existing AXE holders

= 75M shares at listing price of 20 cents gives iTech a listing value of $15million with $5m in the kitty less fees etc.

That’s a good outcome in my opinion.

And of course, I stand to be correct on any of the above…