1 for 2, so we are looking at 22m options if that ends up being accurate.
As for the 25c exercise price, that may explain why the SP has been supressed a little lately, so they achieve the VWAP and options are far enough from being "out out of the money"
Potentially $5.5m funds to come in down the track!
Wolf
Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-7
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