value, page-5

55 million ABZ shares @ 54c = $30m
31.8m TCM shares @ 52c = $16m
20m TCM options exercisable at 30c = $4m (in the money)
Materials - attapulgite $1m
Property - $3m

Total $54m

Market Cap $22m

Trading around 40% of asset value at the moment

The TCM options expiring later this year will probably be sold via an off market transfer. There's not much free float in TCM which has just broken out to yearly highs (could move quickly).

ABZ also broken out to new highs recently.