market cap currently half cash backing

Market cap now about $5.5 million, will receive $12 million once sale of phosphate tennements to Daton (DTG) goes through.

Remaining conditions precedent are pretty much procedural (ie no funding, due diligence or foreign approvals required)and are due to completed in three weeks.

I think it was an ASX oversight not to market the short initial announcement yesterday as price sensitive, hence the news of the signing of the binding sale contract slipped under the radar. However, can only be a matter of a very brief time before the market realises this - share price might climb up to say an initial 10c, with further gains once conditions precedent are completed. But who knows?

angus