resource stocks article, page-18

Bikenut, I think the conversion price is 4 cents, not 3 cents. Having said that, I guess that's a minor detail if the price of the heads reached 20 cents.

As you said in previous comments..........buying the options is all about the leverage.
At this point in time you get twice the bang for your buck, but miss out on the AXM distribution. Once again..........a minor detail if the price of LEG hits 20 cents.

You could exercise your options to take advantage of the upcoming distribution, but there could be drawbacks to this.
At this point in time, I'd be a bit wary about converting any options, and would be leaving this decision to as close as possible to the record date for the distribution.
It's quite possible the US market is heading for a real crunch, which will effect our markets and possibly bring the price of LEG shares down to around 5 or 6 cents, or even less. The price of AXM may also come down heavily, making the distribution less valuable to LEG share holders. Being a "soon to be producing" gold stock should negate the chance of this somewhat.

All I'm saying is, wait a week or two and reassess your options, (pardon the pun).

Also to consider is the possibility that the LEG share price could drop by the value of the distribution once it's taken place. Depends on how much it's been factored in.