Hi Mat
In simple terms you pay the current trading price now being 3c for BYRO and on expiration date, which is set as July 2017, you pay a further 5c exercise price. So providing shares are above 8c in 12 months life's good!
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- Ann: $11.6M Placement to Accelerate Exploration Program at Giro-BYR.AX
Ann: $11.6M Placement to Accelerate Exploration Program at Giro-BYR.AX, page-86
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