So, where are we now ?
PRE SPP / IP buy out
342 mill FP x 1.9c = approx $ 6.5 mill MC
32 mill oppies 16th January 2014
52 mill oppies ( 12c ex )….suppose should inc these now !
POST SPP / IP buy out
Assume SPP fully subscribed :
175 mill FP x 2c = $3.5 mill
350 mill oppies 16th January 2014
55 mill FP + 110 mill oppies …IP buyout
Therefore :
$3.5 mill + $ 0.5 mill cash on hand = $4.0 mill - $1.0 mill IP = $3.0 mill post SPP / IP cash on hand
Post SPP cap structure :
572 mill FP
544 mill oppies 16th January 2014 ( inc 52 mill 2010 )
Just a thought, maybe MC should be quoted in "fully diluted " numbers as oppies are 2c. Thats how the market will value ESI. So ESI is approx 1 bill fully diluted.
Assuming the SPP is fully subscribed, then 492 mill exercisable oppies 2c means $9.8 mill working cap + the $3 mill cash on hand. Sounds good to me.
Just need to get the sp comfortably above 2c and it will all happen. All the ammo is there now.
"To achieve this ECT has also engaged in very positive
discussions with Loy Yang Power in the past few days regarding placement of the production plant."
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