Harry,
No one doubts that there is ore out there, It's the smart ones asking all of the following and not just "there is ore out there".
How much.
What is the grade.
depth (overburden).
Impurities.
Close to infrastructure and transport.
Cash on hand for further exploration and JORC.
Several boxes to tick before the ore that is out there will make it to the steel mill...
IMO options now worthless and most will not be converted, but some may think that they are still a bargain, but what is the market telling us.
what a bargain, page-25
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