1000% upside, page-24

Also thought I might add to my post regarding 2012 and 2013 market caps with regards to what that actually means for the share price.

Now by no means do I have a crystal ball and this is not gospel, but simply a guesstimate based on what we've been told so far and the company meetings their goals on time.

Previous post i said with a P/E of 8 we could be looking at a market cap of $160mill in 2012, so what does this mean for the SP?

Currently 60,531,874 shares on issue, lets assume capital raising is completely taken up AND all options converted in march next year. That is an additional 30,265,937 shares on market. There are also 400,000 2012 management options as well. so thats a total of 91,197,811 shares on issue meaning a share price of approx $1.75 if the market cap of $160mill is reached. Notice while the market cap has gone up 3.5 times, the SP will increase 2.3 times due to share diluation.

Look forward to 2013 where there are a further 150,000 management options and a hopeful market cap of $280mill. This gives a share price of $3.06.

I hope this doesn't come across as ramping because i've shown all my assumptions which i think are pretty reasonable, possibly even conservative. It shows that IF (and thats a big if) all projections, costs, margins, timeframes etc etc are hit that things could turn out pretty well for all involved.

Let's hope Ian and his staff can do so and have a nice picture in The Advertiser later this year of him waving the first ship off filled to capacity.