Ann: 1 for 12 CDI Entitlement Offer with free attaching Options, page-62

Longreach........'the keeper of the gate'?.......on hand to scrutinize the spread of misinformation?......'regardless of options being unquoted.'

There are those that would argue...........and Black-Scholes is only a model.

The current SMN price action is EXACTLY in line with those input Black-Scholes parameters......and I wouldn't have the temerity to argue with the market.

Ex rights .....an SMN share price of 88.5c. and an (imputed) 'value' of 1.5c. per option = 90c.

The current price action is sowing the seeds of doubt........and (IMO) engineering a short fall....... that will be placed with 'mates' a few weeks down the track after a 'timely share price pump'.

Exercising your rights @ 90c. ....and (probably) later your option @ $1.20c. gives you an average entry price of $1.00c.

After that much awaited FAA approval....the SMN share price swiftly tested TREND LINE resistance @ $1.30c.

Will not be exercising my 'rights' .........will be buying on market.

Cheers.