Its probably fair to give Heugh a break 3H! Do some maths on...

Its probably fair to give Heugh a break 3H!

Do some maths on this and tell me how much Heugh has to come up with to convert all his options! Not everyone has a spare 2 million in their back pocket for options conversion so the fact he has purchased more shares directly on market given his future conversion commitments IMO is a positive.

5,265,001 ordinary fully paid shares.

2,500,000 options over ordinary fully paid shares exercisable by payment of 20 cents each at any time up to 31 May 2010.

2,399,250 options over ordinary fully paid shares exercisable by payment of 25 cents each at any time up to 30 June 2010.

5,000,000 options over ordinary fully paid shares exercisable by payment of 28c/33c/37c/43c/50c each at any time up to 3 January 2012.


Now he may not exercise his right to these oppies - however given he has a substantial holding already and his recent purchase wont make much of a dent to his bottom line in $ value should the shares explode on well success it definitely shows as a vote of confidence as he is happy to take parcels of shares no matter what size.

Less than 4 weeks to go till spud!