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

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!