Pretty straight forward - surely you can work it out. But if you...

Pretty straight forward - surely you can work it out. But if you need help here's the back of my envelope.

Point 1 - 5moz x $90 oz inground = $450m (market cap) ÷ 2.4b shares = $0.19 (last weeks SP.)

Perseus jumps on board - value of asset increases so now its

Point 2 - 5moz x $110 = $550m ÷ 2.5 b shares = $0.22

Mining Exploitation Licence granted - value of asset increases again

Point 3 - 5moz x $150 = $750m ÷ 2.5 = $0.30

DFS completed - value of asset increases again

Point 4 - 5moz x $200 = $1B ÷ 2.5 = $0.40

I expect Perseus takeover bid to come sometime between Point 3 and 4.