Age article, page-18

The first options are 20c, the second options if they happen will be 25c.

I believe the share price really needs to spend a substantial amount of time above 25 cents if they really expect many options to be converted. Even those lucky ones (like myself) who scored options at 1.5 cents wont be in the money until the share price hits 22 cents. Many holders who convert the options to shares will likely sell (at least some of them), which will put downwards pressure on the share price (and make it harder to sustain an adequate share price level for more conversions).

Considering there is only 3 months or so to the deadline and the share price has not even reached 25 cents (since the options were issued), I am starting to have my doubts about the piggy back options becoming a reality.

CXZ really need to lift their game RE substantial material announcements if they want the revenue from the conversion of options. Let's hope they do so.... soon.