meeting with martin rogers at om, page-22

I envisage that between now and next Thursday buyers may be restrained as they try to encourage option holders to sell at a discount to the heads. Trading in the options ceases cob next Wednesday. A shrewd accumulation method to entice those who dont want to go through the conversion process for the options. Those that buy them at a discount after allowing for the 2c strike price will pay the two cents and by the time the conversion has taken place we may have progress reports as scheduled by the company and the heads may turn a nice profit for those involved. Of course just speculation by me on whats possible.

Also from next Wed the arbitrage buyer of 1000 option lots and sell them immediately as heads at a premium will stop as the options wont be there to trade Thursday morning. No more pick a pocket or two from them. In a sense it will be a good thing for PRR holders as there wont be the selling pressure caused by the arbitrage process.

All very interesting. The market a sea of red once again today.

cheers