I reckon its also being capped at around 1.3c, it gives those that got free CTMOA a nice profit, but those that bought CTMOA on market >= 0.03 would potentially fall through to the underwriter.
Although a positive announcement would potentially change things in a hurry.
I'm looking at breakeven on the CTMOA I bought (before the OB's), but I'd still rather exercise them than give them up to the underwriter.
Ann: More High-Grade Nickel-Cobalt Assay Results From Itapitanga, page-181
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