A11 atlantic lithium limited

What is Atlantic's implied MC, given the expectation that PLL...

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    What is Atlantic's implied MC, given the expectation that PLL will go to 50% after spending another 150m AUD?

    SP = .675
    Shares outstanding = 605.74m
    Fully-diluted MC = 409m AUD

    PLL currently hold 9.9% (60m shares)
    To increase PLL to 50%, Atlantic will need to issue extra shares, proportionately (1 - (0.099 *2))
    i.e. another 80.2% of 605.74m = 486m more shares
    PLL then hold 60 + 486 = 546m, or 50% of new total shares outstanding 1092m

    This gives an implied, fully diluted MC of 736.8m AUD

    Is this the correct way to calculate?
 
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