Well, put it this way, lets say the deal goes ahead. And let's...

Well, put it this way, lets say the deal goes ahead. And let's assume it can make placements at 2c. Company has:

900mill shares
1,120bill more shares to be issued (120mill to broker, 1bill at .005c to vendor)
250mill shares ($5mill raised at 2c per share to vendor)

Let's assume they have enough in the kitty to commence drilling.

That's 2.27bill shares. At 2c does that make AEX worth $45mill on a 33% ownership of this project at this stage of its life? No way!