LRS 2.56% 20.0¢ latin resources limited

Tell me if I am wrong on this:!!!!Shares currently on issue:--...

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    Tell me if I am wrong on this:!!!!
    Shares currently on issue:-- 155,700,000 (re page 16 of prospectus)
    Shares to be issued prior to 166,666.000
    Consideration shares 25,000,000
    Shares to be issued pursuent to Entitlement issue 347,375,000
    Shares for Placement cleansing 10,000
    So: total shares on issue after Acquisition 694,751,000
    This represents a dilution factor of 4.5!!!!!!!!!!!!!!!!!!!!!!!
    Is my maths correct here??? in which case why am I wasting my time and cash on this dosey??????????????
 
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