DM has had to sacrifice some of his free options to ensure GPN are able to meet their commitments imo.
May have been able to handle it differently by selling shares instead as suggested by t4p but the bottom line is 180k in the bank for GPN.
Now while its good on one hand that DM has ensured GPN has a few dollars, it is also a negative as it now raises the question of why.
If YRR was to list by Wed as some are suggesting they have been told, then GPN would get 500k immediately and there would seem no need for DM to take this action.
Which then makes me think that if there is a delay of a couple of weeks as some have been told by ASX then GPN must have known of this on Fri, as that was the day DM sold his opts. If so then why weren't holders told of the delay.
With some luck we will get confirmation of the listing date tomorrow. If YRR does list this week then the decision by DM will make little sense. Yet if there is any major delays then his actions will make more sense, but may raise some awkward questions.
GPN
greater pacific gold limited
director sells 10mil options average 2.56, page-34
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