net tangible assets comparison

LionGold, on 30/09/11 stated that "as at the date of this announcement" their net tangible assets per share would be 4.11c and their net asset value per share would be approximately 6.84c.

Would someone please be able to enlighten me on the difference in the definitions?

From our last annual report our net assets as at 30/06/11 were $30,756,573 or 3,075,657,300 cents

When Infiniti finishes buying our private placement of 352,770,680 shares when added to 2,351,804,534 shares on issue at 30 June 2011 gives 2,704,575,214 shares.


3,075,657,300c/2,704,575,214 = 1.14c net assets per share.

So the comparative ratio is either exactly 6:1 or 3.6:1

Whichever is more correct, this is a lot different from the relatively outlandish proposal to swap 34 of our shares for every 1 Liongold share.