Ann: Havoc Services Pty Ltd Appointed as Advisors, page-20

Buying options gives you the "option" to at some point pay the company 4c/option (strike price) and they will convert those to full shares (heads).

In this case you have until December 2025 for that to happen. If you don't then they will "expire" worthless.

In the example I gave above, if the heads were 10c then the options would probably be worth 6c (10c - 4c).

1m heads x 10c = $100,000

4m options x 6c = $240,000

You don't need to hold the options till December 2025, you can buy/sell them as you please before that date like any other share.

I think if they can tick the right boxes as outlined by NI, they could easily be a 10-20c stock pre-drill, say in the next 2 years.

As always DYOR.