Shareholder Presentation - Alcyone Resources

ENTITLEMENT OFFER3 for 2 non renounceable pro rata Entitlement Offer at an issue price of 0.6¢ps to raise up to $14.6 million.Subscribers to receive a 1 for 2 free attaching option exercisable at 1.0¢ on or before 31 July 2015.Theoretical ex rights price (“TERP”) of 0.84¢ps based on a last sale price of 1.2¢.Issue price of 0.6¢ps represents an approximate 29% discount to the TERP (excluding option value).A Black Scholes valuation utilising a risk free rate of 3.0% and volatility of 70% implies a valuation of approximately 0.29 cents peroption (i.e. 0.145¢ attributable to each new share subscribed)Market Cap,12 month turnover, number of shareholders and pricing suggests capacity for the issue to be absorbed by shareholders.Slide: 5