All RRP Holders Please Read, page-33

Just some numbers and what to expect

Fully diluted with 2.588 bill shares and 20% free float + $140 mill in the bank April 2017

15 cents $388 mill - $140 mill = Enterprise Value $248 mill
Capital Raise @ 15cents $35 mill. Cash $175 mill - $388 mill = $213 million EV

20 cents $517 mill - $140 mill = Enterprise Value $377 mill
Capital Raise @ 20cents $43 mill. Cash $183 mill - $517 mill = $334 million EV

25 cents $647 mill - $140 mill = Enterprise Value $507 mill
Capital Raise @ 25cents $53 mill. Cash $193 mill - $647 mill = $454 million EV

30 cents $776 mill - $140 mill = Enterprise Value $636 mill
Capital Raise @ 30cents $64 mill. Cash $204 mill - $776 mill = $572 million EV

35 cents $905 mill - $140 mill = Enterprise Value $765 mill
Capital Raise @ 15cents $81 mill. Cash $221 mill - $905 mill = $684 million EV

The enterprise value will go down depending on what price they decide to do a capital raise at.

To do a capital raise at 15 cents no way in hell, too cheap when Anglo purchased the mine for $720 mill in 2007

I don't think Taurus will want to give away its shares since they will be diluted the most.
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