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Gold/Mining/Energy : International Tournigan(ITG.V)announces major discovery -- Ignore unavailable to you. Want to Upgrade?

To: Danny Grant who wrote (298)	7/16/1998 10:29:00 PM
From: MWS	Read Replies (1) \| Respond to of 347

The numbers I have are 16.5M fully diluted prior to the last placement - That placement (30 June) adds 3.5M with a full warrant or another 7.0M FD. Plus the shares that have yet to be issued to KCA for their equity stake: this is 8-10M, call it 10M to be conservative (ie. they take all the warrants permitted). That's 33.5M, (some of which are escrowed or warrants). At a share price of $.80, that's a 27M C$ market cap for a project which has a conservatively estimated NPV of 187M US$ or 279M C$. In an earlier post, #206, I discussed raising this FD position to 40M to account for further financings. Still plenty of value should the float eventually grow that high - a wide margin of safety exists at the current valuation.