I'm going to hold mine right through to exercise but i think buying them at 0.4c and 0.5c is safe as houses. We will be going over 10c in the next week I have no doubt and then they will trade at least 1c so that's an easy bag (albeit on a small outlay).
Whether or not they hit strike by end of November is a big risk of course but like i've said I believe management will issue replacement options as the material shareholders all have lots of oppies. Easy way to ensure they maximise their ownership of the Company without fronting considerable capital within the next few months.
This practice happens all the time when management and key holders have big options holdings. Some recent examples i'm aware of (just to name a few): - PAA - FL1 (I held the expired FL1OB but getting replacements for 0.5c an option) - BLZ - BPH - RR1
MTM Price at posting:
7.5¢ Sentiment: Buy Disclosure: Held
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