under the offer you'd get 3 shares for 16c (limited to 25% 4:1) of holding. the 3rd share is an option exercisable at 15c so worthless at present. that leaves 2 shares at 16c = 8c average. but when the sp goes to 15c that option comes into play reducing the average downwards if this makes sense?
joe/fj, if it was permitted, viable, profitable (on current resource) and funded then ba's tone would be addictive. So remove the Permitted (for now) which added zero to mll mc then I'd expect to see Kodal mc many times £5m on the other 3 kickers I mention. hmmmm something not right is there?