LEG (ASX) SIR Market Capitalisation vs LEG theoretical

Originally posted by littleblackduck: ↑
I've been watching with interest from the sidelines with all the talk about LEG and how comparisons are being made to SIR and what potential prices could end up being. To this extent I've tried to extract some information on SIR during the years and relate it back to its Market Capitalisation (Share Price x Number of Shares on Issue) so that peoples expectations can be clearly defined. Please refer to the table below for these details. Highlight row is the region between which LEG price would be if people were to associated 100% value of the discovery to LEG on a like for like basis with SIR that was taken over for $1.8B. I know this is incorrect as the Creasy group holds 30% of this tenement but I am assuming with all of the land LEG has there are more SUPERNOVA"s to be found so a premium for this needs to be applied. Happy digesting information and I'll be watching the market on open with keen eyes Monday hopefully seeing Mark explain he has found the needle in the haystack and we are on the way to delineating a Super Nova Discovery.....
Note there are options on issue for LEG that are unlisted that will come into the money from 4 cents up to 7 cents so I've done the analysis on a diluted basis from 7 cents onwards.

SIR

1
# Shares on Issue Share Price^ Market Capitalisation Notes
2 30/06/2009 449150615 $0.0110 $4,940,657
3 30/06/2010 1410142397 $0.0110 $15,511,566
4 30/06/2011 150934586 $0.0800 $12,074,767 Share Consolidation Dec 2011- Jan 2012
5 23/11/2012 191700000 $2.5000 $479,250,000 Rounded Share Number
6 19/11/2013 261900000 $2.5000 $654,750,000 Rounded Share Number
7 27/11/2014 414201575 $2.8000 $1,159,764,410 Rounded Share Number
8 30/12/2014 414201575 $2.8000 $1,159,764,410 Half Yearly Report prior to demerger no annual report published this year
9 10/09/2015 414201575 $4.3800 $1,814,202,899 IGO Takeover and delisted
10

11 ^ Closest price I can find near Annual Report data as price not disclosed in annual report

12

13 LEG

14 Shares on Issue Undiluted Shares on Issue Diluted Share Price Market Capitalisation Undiluted Market Capitalisation Diluted
15 2372128578 2759239689 0.04 $94,885,143
16 2372128578 2759239689 0.042 $99,629,400
17 2372128578 2759239689 0.045 $106,745,786
18 2372128578 2759239689 0.05 $118,606,429
19 2372128578 2759239689 0.06 $142,327,715
20 2372128578 2759239689 0.07 $166,049,000
21
2759239689 0.08
$220,739,175.12
22
2759239689 0.09
$248,331,572.01
23
2759239689 0.1
$275,923,968.90
24
2759239689 0.11
$303,516,365.79
25
2759239689 0.12
$331,108,762.68
26
2759239689 0.13
$358,701,159.57
27
2759239689 0.14
$386,293,556.46
28
2759239689 0.15
$413,885,953.35
29
2759239689 0.2
$551,847,937.80
30
2759239689 0.25
$689,809,922.25
31
2759239689 0.3
$827,771,906.70
32
2759239689 0.35
$965,733,891.15
33
2759239689 0.4
$1,103,695,875.60
34
2759239689 0.45
$1,241,657,860.05
35
2759239689 0.5
$1,379,619,844.50
36
2759239689 0.55
$1,517,581,828.95
37
2759239689 0.6
$1,655,543,813.40
38
2759239689 0.65 $1,793,505,797.85
39
2759239689 0.7 $1,931,467,782.30
40
2759239689 0.75
$2,069,429,766.75
41
2759239689 0.8
$2,207,391,751.20
42
2759239689 0.85
$2,345,353,735.65
43
2759239689 0.9
$2,483,315,720.10
44
2759239689 0.95
$2,621,277,704.55
45
2759239689 1
$2,759,239,689.00
Expand
Don't forget to take into account that SIR had over $300m in the bank at time of TO, so you need to dial back the MC to $1.5B.

Tubber

No.	Vol.	Price($)
8	2552827	1.1¢

No.

Vol.

Price($)

2552827

1.1¢

Price($)	Vol.	No.
1.2¢	1330	2

Price($)

Vol.

No.

1.2¢

1330

No.	Vol.	Price($)
8	2552827	0.011
10	1828658	0.010
5	1971310	0.009
2	1370000	0.008
2	7200000	0.007

No.

Vol.

Price($)

2552827

0.011

1828658

0.010

1971310

0.009

1370000

0.008

7200000

0.007

Price($)	Vol.	No.
0.012	1330	2
0.013	1701217	6
0.014	37766	4
0.015	283000	4
0.016	158075	3

Price($)

Vol.

No.

0.012

1330

0.013

1701217

0.014

37766

0.015

283000

0.016

158075

(20min delay)
Last 1.1¢		Change 0.000(0.00%)		Mkt cap ! $32.00M

Open	High	Low	Value	Volume
1.1¢	1.1¢	1.1¢	$2.209K	200.7K

SIR Market Capitalisation vs LEG theoretical, page-5

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	SIR
1		# Shares on Issue	Share Price^	Market Capitalisation	Notes
2	30/06/2009	449150615	$0.0110	$4,940,657
3	30/06/2010	1410142397	$0.0110	$15,511,566
4	30/06/2011	150934586	$0.0800	$12,074,767	Share Consolidation Dec 2011- Jan 2012
5	23/11/2012	191700000	$2.5000	$479,250,000	Rounded Share Number
6	19/11/2013	261900000	$2.5000	$654,750,000	Rounded Share Number
7	27/11/2014	414201575	$2.8000	$1,159,764,410	Rounded Share Number
8	30/12/2014	414201575	$2.8000	$1,159,764,410	Half Yearly Report prior to demerger no annual report published this year
9	10/09/2015	414201575	$4.3800	$1,814,202,899	IGO Takeover and delisted
10
11	^ Closest price I can find near Annual Report data as price not disclosed in annual report
12
13	LEG
14	Shares on Issue Undiluted	Shares on Issue Diluted	Share Price	Market Capitalisation Undiluted	Market Capitalisation Diluted
15	2372128578	2759239689	0.04	$94,885,143
16	2372128578	2759239689	0.042	$99,629,400
17	2372128578	2759239689	0.045	$106,745,786
18	2372128578	2759239689	0.05	$118,606,429
19	2372128578	2759239689	0.06	$142,327,715
20	2372128578	2759239689	0.07	$166,049,000
21		2759239689	0.08		$220,739,175.12
22		2759239689	0.09		$248,331,572.01
23		2759239689	0.1		$275,923,968.90
24		2759239689	0.11		$303,516,365.79
25		2759239689	0.12		$331,108,762.68
26		2759239689	0.13		$358,701,159.57
27		2759239689	0.14		$386,293,556.46
28		2759239689	0.15		$413,885,953.35
29		2759239689	0.2		$551,847,937.80
30		2759239689	0.25		$689,809,922.25
31		2759239689	0.3		$827,771,906.70
32		2759239689	0.35		$965,733,891.15
33		2759239689	0.4		$1,103,695,875.60
34		2759239689	0.45		$1,241,657,860.05
35		2759239689	0.5		$1,379,619,844.50
36		2759239689	0.55		$1,517,581,828.95
37		2759239689	0.6		$1,655,543,813.40
38		2759239689	0.65		$1,793,505,797.85
39		2759239689	0.7		$1,931,467,782.30
40		2759239689	0.75		$2,069,429,766.75
41		2759239689	0.8		$2,207,391,751.20
42		2759239689	0.85		$2,345,353,735.65
43		2759239689	0.9		$2,483,315,720.10
44		2759239689	0.95		$2,621,277,704.55
45		2759239689	1		$2,759,239,689.00

SIR Market Capitalisation vs LEG theoretical, page-5

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