NPV/sharegoes from C$1.60 to C$1.42 with the new share dilution, using the NPV calculated from original fs as a staring point.
Note that as Todd's share of NCF increases, the dilution of NCF share value is shared more and more by Todd. The advantage to Todd of taking more shares, as opposed to increased Sisson ownership, might be that they get more contol of corporate affairs.
It is disappointing that NCF couldn't come up with an iota of news that might have pumped the SP last week. Have they really accomplished nothing since they posted their last corporate presentation?