Buddy I think you will find that RC plan was to talk to sophisticated buyers in to converting options hopefully sometime next year. i think there may have been some reference to this in the latest BRR interview. His aim as I understand it was get gorillas drilling and get surprise moving to bolster the share price so that it would be attractive for them to convert. Obviously sophisticated investors aim would be to convert options then dump them and take the profit early. But that is a trade off that RC would be looking at to get $$ in to deal with 2013-14 commitments, without hopefully doing a capital raising,which would have meant sophisticated investors rogering us in an even more painful manner.
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