my reasoning is that this option was written to to lock out any other bidders and that a bid based on valuation based on drilled ounces means the sooner they convert the cheaper. I assume the drilling is ongoing? Should appeal to instos now too with Xstrata in the mix and a option to bid on the table that's likely to be north of a buck. Still, wish I'd bought this week instead of last....
2 independent valuations to occur, page-8
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