19.5m options only represents 2.43% of total issued shares and is not a significant dilution. Those taking up the options will have to see to an improved share price and pay more than what we can now buy shares. I do not know what all the beef is about here.
I was expecting 50 million options to be issued to the new team and key employees. Perhaps we will know what additional options are to be issued when they announce the arrangements for directors.
Even 50m options is only 6.25% of all current shares and if issued at an average exercise price of 22.5 cents would bring in $11.25m in cash for the company, which would be handy if we got it now.
Lets see the terms of the options for shareholders before we start running off with wild stories of being dudded. If the new team delivers then we will all make lots of dosh (assuming you entered under 20 cents) and I am happy to see them well rewarded. Those who paid much more can still buy the shares on the cheap if they have spare funds and believe in the company's future.
The POG is the main worry at present, and not knowing if there will be enough ore for the mill during the wet season.
loki
BDR Price at posting:
14.5¢ Sentiment: None Disclosure: Held
