shares on issue

Has anyone else turned their mind to the number of shares that will be on issue should item 6 be approved at the AGM?

The number of shares arising from the merger mean the current base will increase by 28/72%, ie 38.8%.

An increase of 25% on that would mean a total expansion of the current share base of approx 74%.

That 25% growth of the expanded 139% could result in the raising of cash (admitttedly at a likely 25% discount to the 'prevalent' share price) that could go a fair way to funding the mine build meaning that the debt wouldn't be that significant and perhaps the company could see its way to pay a divvie. Although a 74% dilution wouldn't be great.

Lots of combinations and permutations!

In any case, I assume that the company will clarify the issues around item 6 before the AGM vote.