bare in mind that their fully diluted share structure is very different from the one quoted in their presentation (31M).

Post financing (recently announced $5M for $ 0.32/share !) and after property aquisition, they will be on 81M shares (fully diluted) and will need another $ 7M (on top of the $ 5M financing) over the next few years for work commiments on the aquired properties !

And that gives them just 49% in their most prospective Charlotte Property.

So, the $ 50M market cap (fully diluted) seems quite lofty and they need to find something good to avoid further massive dilution !

FANTOMAS