What's the value of participating in SSP against buying on open...

What's the value of participating in SSP against buying on open market at current price.

NZ buy price is .20 so for your 15K (- fees) give you around 750,000 shares,

SPP give you 681,818 shares with no fees and 136,363 (1 in 5) options for free with a current estimated value of 0.0125
"The Board of NTL estimates that each option has a current value of approximately NZ 1.25 cents 3 ."

So how does this estimated option value affect the SPP price.

(681,818 - 136,363) = 545,455 @ 0.022 = $12,000
136,363 @ 0.0125 = $1704.50
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$13,704.50

Take the $13,704 and div by the 681,818 shares works out at 0.02c per SPP.

I'm new to this so not sure if my logic holds (wiser man can confirm)

Although spending your 15K on open market get you an extra 68,000 shares at current SP of .02, you don't get the options.

But more importantly in participating in the SPP you are increasing the value of the company base on cash on hand and accelerating the work program.

The concentrated ore seems like a winner to me, reduction by 80% ,surely this will be a massive saving on transport alone?

So for me, as I write this I think going with the SPP is the way to go....

Apologies if my calculations are incorrect.