that is correct, but you can do it anytime you like. You don't have to wait until they are about to expire. Most people never convert oppies - they just trade them like heads. Just don't wait too long if you don't plan on converting as price can fall as date gets really close to expiry
Ann: $11.6M Placement to Accelerate Exploration Program at Giro-BYR.AX, page-89
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