You need to work this out using the number of MIN shares on...

You need to work this out using the number of MIN shares on issue (190,095,350 aprox.) and not 20% of the suggested $10 per share. The article suggested it is worth an extra $10 to MIN shares.

$10 x 190,095,350 = $1,900,953,500
20% of this would value NWE @ $380,190,700 which is even lower than out current market cap.

I do not mean to insult your intelligence I am just pointing out that this is not a rosy figure, and it severely undervalues what we truly have.