Ann: Application for quotation of securities - AGY, page-3

In the best case, one or more AGYAJ holders wanted to convert 10m options because they see it going gangbusters relatively soon, but given they have 6+ months to wait until theirs expire, I'll assume they're planning to sell them relatively soon. They were given free in the last CR so there's no reason to part with $2.5m right now, except for the imminent newsflow that will bring buyers for such a large volume. There are plenty more out there that will weigh on the SP leading up to production, so don't freak out if it doesn't go "to the moon" because the same sellers will be cashed up and ready to buy back from disappointed buyers in April.