ipo valuation around $11.5m, page-11

vontrader

Not sure what you are complaining about.

Take a look at a more recent announcement from the company regards shares on issue. You are quoting something from October last year.

This from 4 Feb this year:-

Gossan Hill, at completion will have 232,000,000 fully paid ordinary shares on issue and 138,000,000 options, each exercisable at 10 cents, expiring on 3 February 2017.


'Slinks' already did the math on this a few days ago:-

"Just did a quick calc. Looks like a 4 to 1 share consolidation.

167,300,000/41,825,000 = 4

Would explain why the IPO price is 20c as opposed to 5c"

http://hotcopper.com.au/post_single.asp?fid=1&tid=2219703&msgid=13167685


But to run it through again:-


232,000,000/4 = 58,000,000.

58,000,000 X 72% = 41,760,000

That took all of 2 minutes work.


What is the problem????

In the most recent announcement SOC state very, very, very clearly they have 72% of Mt Adrah Ltd. You have a track record for competent research .... this line of posts seems extraordinarily sloppy.

The prospectus will come out soon. Everything will be laid out in full detail. How about we wait to read all about it from the reliable source, which is SOC itself?