The all ords 500 lowest market cap is RHI $228M.
Currently ADN has 3.428B shares and 55M market cap.
Placement 1.3c .384B = 3.812B shares after placement
If we assume the extra 15M needed to be raised and option conversions bring it to approx 5B shares
I would assume soon after a share price of at least 5c and a 250M market cap.
The certainty of mining will be underway.
Obviously, the cornerstone putting in 10-15M I would expect them to have a big say and a position on the board.
I would only then consider a 10 for 1 consolidation when ADN goes into the all ords and insto's must buy in because ADN will go into the index. The stock could then hit $1 with 500M shares issued after consolidation. Also, at the same time I would list overseas where the greatest number of new investors and insto's will buy.
Let's see how this plays out.
ADN Price at posting:
1.6¢ Sentiment: Buy Disclosure: Held
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