mmro v mmr, page-5

wobblyboots,
g'day.

It doesn't matter what the shares are trading at.

If you own MMRO - the options for MMR - and you want to convert them to shares, you pay 20c per option, and in return you are credited with shares - MMR.

So, you buy 1000 options for 15c today. Any time before option expiry in 2013 whenever it is, you fill in the form and send a cheque for $200, and the company allots you 1000 shares. These are called 'fully paid ordinary' shares. You can then sell them as per usual for what the market wants to pay - hopefully $1, or more.