WHY PUA ?, page-9

Way I read it the all in cash costs are way below any of the up and coming peers' current projects and the product is superior than most (5N). They are using 15 million of the 30 million to build a plant capable of producing 1000 tonne annually and looking at the graph in their most recent presentation expect this to be operating next year. If my calculations are correct there will be 1.5 to 1.6 billion shares upon the offer being completed - market cap of 52 million ish assuming a share price of 3.5 cents. (Share consolidation mentioned) Sapphire receive C12 million which given the Canadian dollar at present is around 13.2 million dollars and around 450 million shares. (AU). PDYOR as rough calculations only. ATC as an example has a market cap around 70 million.