Ann: Appendix 4E and 2016 Full Year Statutory Accounts, page-2

A quick read through the document gives me a total of 4.9 billion shares now on issue. (With an extra 0.2b on option).

Lets call it 5 billion shares. Previously there were 777 million.

That's a a dilution of roughly a factor of 6. Leaving the market cap as it was when we shut down, each share is now worth around 0.4c.

Would readers like to correct or improve that if there are faults in that quick calc.



Of course how the market sees things at re-listing time is a totally different thing.

If we are well funded. If we are mining profitably. If we are running as a company should. Then there may still be a good outlook for the new CSD. Of course the shares we own have shrunken considerably in value but ...

The other thing to consider is a fully functional CSD with a profitable plant running well would have a market cap higher than $22m I would have thought. After all, what is the plant worth alone?

Best wishes to all.