confirmation, page-8

It seems to me that there a better than even chance that XST will purchase the stake in sansinena, based on the commentary in the quarterly. Unless one believes Cosimo and the board are just totally incompetent then there is every likely hood they can raise the capital to do the purchase under similar purchase terms.

So lets look at that then, if (biggish if) they can pump the SP up into the high 1's and do a CR for say 1.5c for 25mill would be ~1.6bill shares + existing 650 mill existing would be 2.3bill on issue round figures.

With my ever optimistic spreadsheet assumptions below which I have used before and I've not updated EBIT comparisons recently so intended for illustrative purposes. In my mind, it seems like there is still considerable value to be had in doing a deal even if it is much more dilutive.

Then layer into this drilling of Dempsey and whatever other deals XST are advancing and you still have a pretty compelling investment opportunity.

Of course no value will be associated to any of this until it transpires,but thats the speculation of why we are all here, high risk, high reward not for the faint of heart.

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