re: presentation detail Graham,I've noticed you plugging ITC...

re: presentation detail Graham,

I've noticed you plugging ITC pretty long and hard.

ITC have 187m shares, and have 12.5% of the Coalition PELs (104, 111 and 115). Their share price is roughly 7 cents.

Entek will have 40m shares, and will have 12.5% of the Coalition PELs. Their share price will be roughly 20 cents on listing.

Thus, each Entek share will represent a higher percentage of drilling than will 20 cents worth of ITC shares - you could sell four ITC shares, buy one Entek share and still have the same percentage of the dirt, plus a bit of cash in your pocket.

Finally, ITCs board and directors are pulling about $600K out of the company each year ... or about 5% of it's market cap, so I'd be careful about throwing phrases like "for the directors benefit" around.

Ian Whitchurch, who does not own Lion shares, and is not applying for Entek shares