who else paid to convert oppies?, page-5

I did the same as yourself and sold my options.

I thought at the time the options were granted they were a device designed to negate negative sentiment towards management of the company and the delay in releasing due diligence on Mauritania allowing people to be more informed on whether to sell or convert reinforces my opinion.

When the options were granted the share price was in free fall and they were on the back of the share market collapse (write down in share value) bleed of capital on investments such as Bollywood TV, OEM Nutech, Monteray GMCG LLC.
Excessive fees and expenses from management was a issue. Priority Plus Managed Fund was fresh in peoples minds and which incidentally a uncharitable person might suspect had a due diligence process consisting of a few drinks in the members bar at the races.

To their credit they have tried to address some of these problems and have achieved a turnaround of sorts. The FWC purchase was commendable and costs have been lowered so hopefully the way forward will be more positive.