It’s good leverage if you sell the options rather than convert.
For example, if the stock price doubles from 4 to 8 then the options are likely to go up by 4also.
That’s 100% profit on the FPOs Vs 333% on the options.
Ann: Spectacular Bluebird Drill Hit 30.5m @ 6.2% Cu, 6.8 g/t Au, page-143
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