Ann: MD's Company Update - June 2021, page-186

I will convert my options but it could work in our favour if the company has a shortfall and needs to raise again in the near term. We may have less dilution! A lot here have the view that the share price is being held back due to shareholders selling the heads to convert.

So here’s my musing given that I hold the view that the share price will increase on news from hole NDIBK04, drilling update from Riqueza, and positive news flow from Frewena and Jean Elson.

Say 20 million options lapse leaving a shortfall of $1,800,000 that the company has budgeted for.

The price of the shares rebound to 15 cents either on less supply or positive news.
Company raises $1,800,000 at 12 cents so only needs to issue 15 million shares.
A rebound to its high of 17 cents and the rise is at 15 cents and it’s only 12 million shares issued.
It could well be higher given the high expectations for the assays for NDIBK04 when they come to hand