Ibb - good to see you have had a sufficient amount of wine to impact your written ability
Re the CN tranche 2 oppies, it's not the 5c strike price that is the worst, it's the sheer volume of them! 12.5 per CN.
Some interesting maths folks. If strike is 5c and you sell your oppies for 12-13c, you profit 7-8c, about $1 for each $1 you have lent us via CN (~8c × 12.5 oppies). You're then "free carried" or repaid the money you lent via the CN, yet still have the 15% pa return and the ability to convert to shares at a discount!! Peachy!! these next 50m oppies WILL be sold at anything above 12c, regardless. Another big hurdle to overcome before we get a chance at another SP rise.
Ibb - good to see you have had a sufficient amount of wine to...
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