Not quite right Bouzouki.Refer to my previous post headed...

Not quite right Bouzouki.

Refer to my previous post headed "DILUTED SHARE VALUE" copied below -

Market Cap $257M at $0.16

Therefore number of shares before issue approx 1.6 billion

Equity Raising in two components -

1 Entitlement offer - Placement of 1 for 4 shares to raise $40.2m , therefore 402m additional shares


2 Institutional placement of $19.3 million , therefore 193m additional shares

Therefore , number of Shares after issue = 1.6 bn plus 402m plus 193m equals approx 2.2bn

Market Cap before issue equals $257m

Market Cap after issue aquals $257m plus $40.2m plus $19.3m equals $316.5m

Therefore price per share equals $316.5m /2.2bn = $0.144 per share .

The actual dilution is not that dramatic if you take up the offer since your current market cost is -
4 shares @$0.16 = $0.64 plus
1 share @0.10 = $0.10
Therefore 5 shares cost $0.74
equals $0.148 per share which is only about 3% more than the price per share after the equity raising .

I trust my logic is correct.
Please let me know if I have missed something ?

Of course , sentiment will influence the actual Market Price