Ann: Intention for Non-Renounceable Issue , page-2

really well priced.

1 for 1, at 5c, and 1 for 2 options strike 10c,

given that the options will trade at maybe 1/3 of the heads, inherent value underpinned at 5c + 1/3 x1/2 x5 = 5.8c.

Basically no discount, which, and remains attractive to buy with the free 1/2 option.

Another way to look at it,your getting muscle of 1 and 1/2 shares on the price of 1 share. (excluding the strike price).

If these shares, get back to pre crash levels of 20c, then that muscle kicks in.

I will be taking mine in full.

I think these guys are at that point, where they need the grace of another 6m to get the prouctions flowing, and then we wont look back.

But, like all, i'm still waiting to see some of those production revenues come in, and help us get to organ growth.