unfortunately there's a lot of short term issues around this stock because of options expiry. it's a shame really because holders caught in the options trap are probably more likely to be manipulated, hence the price manipulation of ords.
oppies have looked sick for a long time, but then again management have indicated they are an integral part of their strategy going forward. which makes you wonder why they didnt do some sort of roll over with them .. ie: pay .002 per oppie held and roll over for another 6-12 months .. cash in the door for nothing and promise of conversion at full price when the production plans are clearer. whatever the legalities of the arrangements, there's lots that could be done to ensure people are not burned for a second successive time in this mobs options.
i for one believe management d have some ammo up their sleeve with rps report set to be a corker, and the io royalty report likely to show a near term timeline for returning cash to shareholders. im wondering if they had a clear commitment of when cliffs will start developing the area if they could commit to returning royalties to ordinary shareholders and thus putting a very clear price on what the ords are worth with just this aspect alone. if they could convince oppies holders to convert (and this requires share price at 4x where it is now. big ask) then they will not need the io royalties for cashflow.
time is now. rps report soon should kick it off. hanging in there.
GDN Price at posting:
6.4¢ Sentiment: Buy Disclosure: Held
