Ann: Brisbane Resources Lunch Presentation, page-53

Hi @K23 - with Options you have two paths you can take:
1. Sell the Option at its current market value (currently 9c) and take the profit. This will, of course, depend on what you paid for it. If it was issued to you as a shareholder as a bonus for buying into the last cap raise, then cost base is zero)
2. Exercise the option at the strike price (20.5c) to obtain a fully paid ordinary share (currently 28c).

The only trick with exercising options is that you often have to email the request to your broker. Depending on your trading account you may not see the feature to exercise the option at all and only be able to sell it as an option.

Give your broker a call to clarify. It's pretty straightforward.