Ann: Pilbara Lithium/Gold project - acquisition update, page-33

Vendor, correct me if I am wrong but the only thing that increases the market cap is the price of the shares going up, as market capitalisation formula is calculated as; outstanding shares X share value = market cap. So if the SP does not change then the market cap stays the same. So in the event that a company makes a find and the share price stays the same the market cap stays the same. In fact the market cap of MPJ varies day by day even with no finds given the fluctuation in the SP, will the market cap of MPJ be the same tomorrow as it was today if the SP varies + or - $0.001? The only thing that may change with a find is the Net Asset Backing something that is not quoted on here, nor possibly relevant. I agree with you that the number of shares on issue has no real dampening on potential market cap, or any potential SP increase.