options vs fps, page-2

Only 1.9 cents difference between the shares and 5 cent options, expiring inside 12 months.

I've followed RRS for a while now, but have not read all the information about them in detail, but with the fact that the 5 cent oppies expire in less than a year and the heads are only 2.8 cents, there is no way I would touch the oppies.

According to commsec, there are 1.13 billion shares on issue. No idea how many listed and unlisted oppies there are. But on a PE of 20, Range would need to make $56 million profit just to justify a valuation of 5 cents to get the oppies over the line. What are the chances of that happening in the next 10 months?

NB: If the commsec info is correct, the shares on issue for RRS have gone from 148 million in 2002 to 1.32 billion in just 4 years.