poor deal for larger existing shareholders, page-10

As we have it now
Spp for eligible existing shareholders
15 million divided by 1.15 = 13,043, 478 shares.

13,043,478 divided by 6663 existing shareholders = 1957 shares each assuming everyone takes up the offer (which of course won't be so)

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Now if SPP was done on a percentage of holding basis :

291million pre existing shares divided by 13,043,478 = 22.3100

So for someone with 100k shares.
100k divided by 22.3100.
They would be eligible for 4482 shares.

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However bear in mind in both calculations above not all of the 291m shares or 6663 holders would be 'eligible'. i.e - I assume no management allowed to participate.
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So eligibility for roughly 1957 shares verses 4482 I think ain't the end of the world for someone with a 100k holding. For someone with a 1 million holding maybe so, but then again ??

For the record i'm holding 15250
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On the other hand our current situation will be :
339m shares when completed x current sp 1.20 = 406m
145m cash
Rough e.v. of - 261m give or take some DRM shares and a bit of extra spend on Mt.Magnet before gold pour.

I think it depends on how you feel about the company and what they are doing. But if you see this as good value, any dip to near 1.15 or thereabouts on the share price, possibly below, hallelujah, is a good opportunity to top up on any shares that may have been wanted in the SPP at the expense of any currently disgruntled emotional shareholders.

Perhaps I should keep these ideas to myself until I buy more.