It's a ripper of a rights issueLet's say I buy 50,000 shares at...

It's a ripper of a rights issue

Let's say I buy 50,000 shares at 40c. Outlay = $20k
Then I get 50,000 at 10c. Total outlay = $25K
Average price = 0.25c

Then I get 16,666 free options, exercisable at 10c
Then I get another 16,666 secondary options exercisable at 12c if I exercise the first lot during the specified period.

That means if I sell at 30c, I make $5k + $3,332 + $3k = $11,332 from initial outlay of $25k = 45%

If price is 40c, I make $15k + $5k + $4,666 = $24,666 from initial outlay of $25k = 99%!

Please feel free to correct my calculations.

The buy depth looks good and once you factor in the potential of their assets, the SP should really go higher.