I like the sound of a 35B MC but if it was dealt on the current...

I like the sound of a 35B MC but if it was dealt on the current SP and Shares on Issues, it would mean a 35B MC would equal to a $12 share price.

Assuming no further shares issued (currently 2.8billion issued shares and market cap of 167m).

Anyone seen VULcan jump to $12? The only way they could do this was the thin ASK ladder which allowed the market makers to jump the price up quickly. That together with a low float.

So in theory, $12 for CRO is possible but given the current shares on issue, this would need to be drastically reduced.
A reverse stock split of 10:1 would reduce to 280m of shares and this would be realistic. But then your SP would need to start at around the 60c range.

A reverse stock split might not be a bad idea if you want to jump to $12.