'I like the fact they have 4 million in tax losses to use'
I found my original calculations, and I think the figure is nearer £2.1m.
still substantial in relation to the current market cap of about £600k.
habayyut: there is a large holding, originally over 60% (possibly by associates of the original vendor of some of the stone resources to the company) which is not shown in the earlier post . the lack of liquidity in the current price range could indicate a smaller free float than many assume.