chart..., page-2

Thx for the chart MK. One thing to bear in mind is that there is $20m conv note overhanging. It's $4m currently but with an option to increase to $20m. Conversion price would be 18c.

So that's a possible extra 111m shares on top of the current 196m.

Current potentially diluted market cap @21.5c is $66m

One has to take into account the value add of the note subscriber in who they are and what the cash will be used for.

Also if Tata Steel pulls out, then the note may not go the extra $16m.

I don't know if DYE is fully price or not as we're investing on potential and upside from possible deals of which I see 2 major ones - Tata Steel UK and Pilkington.

Sentiment: Hold