from my solid understanding, AUZ pay $250k dec 25th or they walk. Id be pretty happy if they did walk as LSR could drill themselves, sell it, JV it again, for much more now than when the JV was done with AUZ. Thank-you very much.
Christophe, there has also been approx 100K of options already converted this quarter, and if AUZ are drilling Burton now and hit something solid, then you will see a lot more converted, along with Marymia drilling and results. Cash isnt an issue now for some time.
Also I would suspect the underwriters own a lot of heads, so will want it to run like us all. Their underwriting of any left over options, will just be a bonus to them.
Ann: Partial Underwriting of March 2016 Options - 13 Nov 15, page-24
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