The percentage of a project is worth considering but must be...

The percentage of a project is worth considering but must be weighed up against the results the company is getting, cash on hand, debt and market cap.

In the short term options that are in the money don't matter in my experience execept if you plan to hold until the expiration date. There will likely be no new shares being sold into the market between now and then and if there are, very little.

The drill results this company are getting are nothing short of gobsmacking. This is for a market cap of $10m or $1billion market cap, these results are gobsmacking.

If you choose to dwell on sovereign risk then so be it, but the market will not ignore the in ground value of all of that gold. I reckon they are sitting on AT LEAST 1 million ounces just from one area of their project.

Further results will come and further results will impress IMO and then the next drilling program will begin - fully funded.

Sit on the sidelines or whatever, but IMO this is an absolute bargain that the market will slowly wake up to over a short period of time.

Still flushing out the stale ones.

This is all just my opinon - no right or wrong in the market as long as you're making money.