another 440 million shares is not possible this year
SPP, max issue is 30% of sharecap 617m x 30% = 206m (this is based on a price of 1.5p, don't ask me in Aus cts.)
617m + 206m = 823m
max placing available this year 15%, 823m x 15% = 123m
so max dilution allowable this year thru SPP and Placing = 326m
not that that is much consolation but it is roughly 25% less that what is being suggested.
Ann: Canning Basin SPA17AO - Conversion to Exploration Permit, page-28
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