The calcs I'm seeing on some market caps for a buyout aren't...

The calcs I'm seeing on some market caps for a buyout aren't quite right so I'll help people out here...
On a buyout you have to use the fully diluted shares on issue which from the latest 3B are:

1,707,087,033 shares
27,500,000 performance rights
260,880,610 options @ 0.03
86,000,000 options @ 0.10
Total of 2,081,467,643 fully diluted.

The options will be the buyout price per share minus the exercise price so as your example of 50c in AUD goes like this:

	Column 1	Column 2	Column 3
0	Number	Multiplier	Total $
1	1,707,087,033	$0.50	$853,543,516.50
2	27,500,000	$0.50	$13,750,000.00
3	260,880,610	$0.47	$122,613,886.70
4	86,000,000	$0.40	$34,400,000.00
5			$1,024,307,403.20

This is assuming that none of the options are exercised - the more options exercised the more they move into the shares category which adds further.
As you can see there is a bit of a difference between the fully diluted and non-fully diluted cost, so people need to be aware given there are some quite over the top numbers being thrown around. I'm bullish, but expectations need to be realistic in my view...