Ann: LKE secures $1.9m Option Underwriting Agreement, page-43

I hear what you're saying

Its painful being at a loss.

Is paying another 10c (as you said, 16.6c effective price) such a bad thing? Do you think the SP will never get above the 16.6c? Of course you could try to save 5% and buy on market at a 5% discount. The company wont get your money in support if you buy on market though, just another trader.

This last 12 months, someone bought LKE at over 27c. Was that a bad price? I can't say how they're feeling, because they may be a day trader in a lot of pain, or a long-term-shareholder happy with their purchase, or an extremely happy short-seller. They could have also sold out (or covered) at any time. We don't know.

Of course the SP is convenient ;-) We are all manipulators in the market, trying to bend it to our own success.

Think about it though,
ORE is currently $1,080 million market cap. LKE is $28.8 million. 37.5x the current share price if LKE were to match ORE in a few years. I think LKE has more land than ORE.
AGY is currently $257 million market cap. Nearly 9x the current share price. AGY only have a couple of ponds, a smaller resource, and only produced 30kg of LCE.

Even if you paid 20c per share, if the company succeeds then there is some serious profit to be had on your investment. If the company falls, it doesn't matter what you paid

Disclaimer, none of this is investment advice, DYOR, IMO, all of that. I hold AGY and LKE. I do not hold ORE.