Hey SN,
Currently, CMM has 471mm shares fully diluted
http://www.centurymining.com/s/ShareStructure.asp
The new company will have 0.4 * 471 + 100 = 288.4mm
I had a brain fart that overstated the new company's O/S by 100mm shares... but my main point is that there will be less shares outstanding than what CMM currently has.