True they will have other projects, but after option conversion my maths says ~5c is close to cash backing once diluted for the con note and in the money options.
The outstanding 5c and 6c options might well be a bit of a natural handbrake to the share price also. Especially given many of these were free with the con note (sub 2c shares) so quite literally a free option, should the price keep heading north.
Ann: Cazaly To Sell Parker Range to Mineral Resources Ltd, page-46
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