Ann: Broken Hill Mines Acquisition & Public Listing Update, page-3

This equates to a 4:1 consolidation on the original SOI.

Share price at acquisition date = 7c. Share price following 4:1 consolidation = 28c. IPO being done at 35c is therefore at a 25% premium to the last traded share price.

However increasing the subscription to $20m at 35c means an additional 37,142,857 shares from the public offer and our ownership decreasing. Furthermore the vendor consideration & convertible note shares are not going to be reduced which is absolutely BS considering existing holders are both diluted and consolidated. Not happy here.

But end of the day it is a huge Transaction and all existing shareholders will see a material uplift in wealth when it's relisted. I struggle to see how we won't be trading above $1 at current market levels, let alone where we'll be when silver starts breaking out and catching up to gold. Get the deal done, get relisted and put all this behind us.