I calculate that after the listed options are exercised AND all those Options issued at the up coming meeting go thru that the Diluted Share Register would be rounded as 200 mil on issue.
Thus a 50 to 70 cents Takeover Offer would be for $100 to $140 million back of envelope/ball park.
Compare that to Canadian Market Caps and say $130 mil is quite fair, reasonable, plausible and possible.
considering the diluted market cap at say 40 cents is $80mil ish.
40 cents facing dilution for equity finance.
Confronting Dislocation in the Graphite Market, page-20
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