I've just been playing with some figures to workout avx's...

I've just been playing with some figures to workout avx's increase in value following the phase 2 results, less cash raised.

Prior to the phase 2:

264m shares (fully diluted) x $0.68 (sp) = $179m

After (assuming full take up)

406m shares (fully diluted) x $0.78 (sp) = $316m


$316m - $179m - $72m (cash raised) = $65m

or an increase of about 36%