Complicated question. The auth is 5 bil. the O/S is 892 mil to 3 bil. the float is 3 bil. Khoo has 2 bil( restricted). The OS does not include what was not exercised and sold by EWI yet.
Since the most that can be issued is 3 bil and we know that 892 mil was issued( mostly to EWI) by last September 30, 2010, we know then that only up to 2.1 bil can become available. No more OS can be issued based on the auth.
The 3 bil allowance( of which 892 is OS as of September 30, 2010) is considered as already in the OS only when EWI exercises his paper
( he can do so at any moment while he has stock to exercise left).
I do not think that he has more than 900 million left as I believe that he has exercised 2.1 billion. The number is actually 800 and not 892 as there was already 92 before August 10, 2010 before the EWI issue was established.
I also think it is healthier to have more stock in the float and less for sale later then the opposite. Why? For the same reasons given that 1 billion or 2 makes no difference when so many others have more in their floats and we are into gold mining.
Of course the discussion will then go to other questions on why did we ever debate the 892 number and get Khoo so involved.
I remain positive as I already knew the above for months and still remained positive. The only thing now is gold news.
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