early days yet..., page-28

They were only approximate, but are about right...

For valuation purposes, assume options are converted to shares and funds in bank.

It goes like this...

Shares:
Current: 129,618,328
Placement: 18,000,000
Total: 147,618,328

Options:
Current listed: 36,189,207 (15c)
Current unlisted: 2,350,000 (22c)
Total: 38,539,207

Once the options are converted, there will be a total of 186,211,535 shares on issue.

The current placement has just raised $3,240,000, the converted options will add another $5,945,381 and assuming $2,000,000 cash on hand, less the $1,300,000 final payment to Abelle, we end up with $9,885,381 cash at hand.

Nnote... I havn't allowed for additional funds from current gold sales, nor have I allowed for current exploration costs.

Hope this helps.

Cheers!