back in the kennel, page-13

The bills came in the mail today for the optionholders and at $1.50 a share even smaller optionholders bills amount to large sums of money.

Now most of the large optionholders will for sure exercise their options, but for the smaller optionholders they are going to need to sell heads to exercise their options, or simply they will take fright and sell their options. You can bet your bottom dollar that these shares will be $1.52-3 come option conversion time.

They are going to need some broker to appear with a partial underwrite to get this conversion fully exercised. There are I am sure plenty of Aussie instos and high net worth punters more than willing to get a decent chunk of shares on the register at $1.50 without having to buy them through the market.

The commission to be earned on a deal like that is substantial. A broker will not be able to resist. But $220M capital raising in this market is a long bow to draw.