Ann: Antilles Gold to raise up to $4.3 million, page-77

Note the dates of issue,
Placement shares issued 12 sep
SPP shares issue on 25 sep

After that, the market can move forward without the overhang of any flippers.
Noting that some existing holders may have already flipped.

So if any flip selling pressure eases, which is typical after the CR is finished.
Noting, that the issue of options occurs a month plus later,
Placement options on 1 Nov, and SPP options on 15 Nov.

Important, because the shares could find themselves rising, long before these additional options hit the market.
Which makes the current supply of options, matched against a weaker SP at 2.3c, possibly the low point.
A rising heads, will not then give away the options so cheaply later on. IMO