am i missing something!!, page-32

Hey Melua

The only reason that I included the funds for the 4c options was because you included them in your fully diluted calculation?

It would seem that the Coronet funds will come next year so lets exclude for the sake of the exercise and recalculate as if the options are not issued.

$2.2M as of 30 June
$3.75M USD 1st instalment from Coronet
$2.6M USD in Coronet shares
$2.2M from Pearce and Middlemas
$10.75M total with 423million share on issue

This values the stock at around 3c with more money to come next year.

Then factor in middlemas/pearce I still think this stock is cheap but only time will tell.