Ann: Anson Completes 3D Geological Model at Paradox Basin, page-47

OD options are exercisable at 20c
they expire on 31st july
when you buy them at say 1c your hoping that the SP is higher than 21c by july 31st (1c to buy, 20c to exercise them, 21c would be your average)
conversely you could buy at 1c and hope the SP was like 30c so the options would be worth around 10c or so, a 10* for you
the SP is 16.5c and its July 19th so clearly those options are worthless as they cost more to exercise than the SP is worth
company slowness, a massive lithium spot price crash, war in ukraine, crazy inflation, recession fears, the ASX volume being at a 4 year low, pick your poison in terms of what you want to blame but you absolutely should not be buying options if you don't understand them