weird?, page-18

at this stage, i reckon that holders would take 10c.

directors now have skin in the game, mainly, by way of 2.5c strike options, some shares.

What sort of gold watch would these chaps settle for?

if you think say, 30m options for example,

then at 10c, ie 7.5c ops value is 2.2m handshake.

at 20c is 17.5c = 5.2m.

Greed, and they put their hats out for the ops, so now at least motivated to put an offer to holders, when there is at this time, something in it for them.

In the past, the motivation was not there.

That said, would our onlookers buy it for 10c or 20c? 150-300m ballpark? probably.

we wait for flows, and any jv developments that might make the old dog, look a little less mangey.