Ann: Drilling intersects significant REE mineralised zones @ CODA, page-19

We’ll probably need to see the share price hit 1 cent before we see an uptick.

For anyone wondering why people invest in options at this price, it’s usually for leverage.In this case, options can be converted for 1.2 cents. This means if you purchase options today and want to convert immediately, you’re in for 1.7 cents. Sounds stupid, right? Maybe.

Longer term, if the share price hits, say, 10 cents, it’s highly likely that options will be trading at approximately 8.8 cents (share price minus the cost to convert, which is 1.2 cents).

Back to my earlier comment about it being stupid, again, maybe, but read on.Today’s price is 11.1 cents to get to 10 cents, so it’s 11.1 times the amount you’ve invested.Options would be a tad under 18 times.

It’s all about leverage and your appetite for how you think the company will fare before the expiry of options.

I'm neither saying our SP will hit or won't hit 10c purely an easy example to explain options to those who haven't been exposed and would like to learn more