please explain

I've never looked at this until today and am trying to make sense of recent announcements.

If ARH currently have about 730m shares on issue (excluding about 50m options), is it correct to assume they will end up with about 24% of something that may (or may not) happen a few years down the track, thereby valuing the promise at about $600m in current dollars?

I have never seen a company with so many excitable headlines...

"purchase includes 3.3b worth of sales"
"to become iron ore producer"
"Australian Resources poised to strike"
"Indian market offers huge potential"

Am I missing something?

Good luck punters, buyer beware