not good enough, page-4

What you say is correct - unless shares are issued at a discount, in which case AASB2 requires calculation of the weighted average number of shares in a slightly different manner. They have not done this and nor have they adjusted the prior year as required.

I am not saying the accounting standards are great, but they do have to be adhered to.

H - yes, you are probably right, roll on May 31 and some drilling news! I just am trying to understand the disconnect between Wilsons DCF valuation of Kanmantoo at $0.44 (at a discount rate of 11.1%) and the $0.265 price prevailing.