Fair points steven, sentiment can quickly swing back to the upside if they can start delivering on some key milestones. Right now (and rightly so) the market is saying too many unfulfilled promises in the past and we’ll believe it when we see it, hence the opportunity to buy at these seemingly ridiculous prices. It is an interesting point re. options extension, I’d say that’s very rare but I held quite a few Octanex options years ago and the MD Geoff Albers held a massive amount, they got extended as “partly paids” I believe. On the upside of that sentiment is Melbana, their share price was bobbing around 1c and their 6.5c options looked dead in the water, drilled a successful well and sp shot up to 20c and there you have it options were converted and those who took the massive risk were rewarded accordingly. It does happen, it’s just that right now it feels incredibly risky…..but therein lies the opportunity.
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