Some initial figures from a non-holder to kick this off.
Current sp (2 Feb 2007) = $0.47 Shares on issue = 38,602,000 Listed Jun 10 options@$0.20 = 16,800,000 Unlisted May 10 options@$0.20 = 1,750,000 (Directors & Consultants) Unlisted Dec 10 options@$0.25 = 750,000 (Directors & Consultants) Unlisted 10 options@$0.20 = 2,500,000 (Echelon)
Top 20 = 58.61%
Cash in Bank = $5,537,674 Cash on ex. of $0.20 options = $4,210,000 Cash on ex. of $0.25 options = $187,500 Total Cash = $9,935,174
Current fully dilluted mkt cap = $28,388,940 less cash = $18,453,766 or ~$18 m value placed on tenements
Tenements look good, i.e. are in a strong location.
Management seem OK (Mathew Rimes at least gives them some technical experience)
Initial feeling is that they are a bit over-valued at present given the early stage of development and may drift back a bit - woould have liked to have got some in the IPO as a speccy and if it falls to around $0.30 will pick up some (watching in the meantime).
Cheers SBC
SVM Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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