Ann: Application for quotation of securities - CHM, page-14

Looking at the Lind agreement:
"Options: 41,891,892 options with an exercise price of $0.046 each and an expiration date of 48 months after issue. The Options will be issued within three months of the Execution Date and subject to shareholder approval"

For the options to be interested money, the SP would have to rise above 4.6c within 48 months after issue, starting from June 2023. We are currently sitting at 1 4c. Once the SP goes above that price, I'll be happy for them and cheering for them all the way to the bank converting every single option at 4.6c as it means
a) my holding will be worth multiples of what is currently worth and
b) the company received more funds at a multiple of today's SP.

Rinse and repeat?
As far as I can see, that cannot be said in regards to the options as the subscription price is limited to the shares it seems, not the option exercise price. That appears to be fixed.

Details can be found here:
https://www.aspecthuntley.com.au/asxdata/20230623/pdf/02679089.pdf

It might also be worth noting that the Lind agreement had to be put in place because CHM asked the market in 2022 for extra cash and was it fully subscribed?
What was the interest in 2023 when they had to ask the market again for extra cash? It wasn't overwhelming as the deadline had to be extended and we still only managed to get a fraction of what they asked for.
Lind was not a choice but a result of the market which included existing and potential new shareholders to provide extra cash to fund operations and it didn't happen. I remember management on the other hand committed to just over 1 million - can the same be said about shareholders that are complaining about Lind now? I know that I didn't take up my entitlement and instead bought options on market (which have since expired).