unless they dont particularly wont or care if all the options converted. 3.5c is a pretty low price considering the potential resource they have. imagine if they did a cr when the sp was at 18c. probably generate similar funds for 3x less dilution at a minimum. they have 40odd mil in the bank. better to see 300mil 3.5c options expire and raise again at a higher level in the future
Ann: Zapato-1st Drilling Update and Option Expiry Reminder, page-33
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