Hi, most probably the 33 million options @ 1c will be veery soon exercised, for 330.000$ additional cash, for 2 reasons :
1- how to explain then the reduction of exercise price (from 1.5c to 1c) of these options ? IMO the most plausible theory is that the owners of those options got a deal with the board : exercise now and we will reduce for you the exercise price. Otherwise why bother reduce the price NOW (or ever for that matter) ?
2- we already have 6 millions options exercised at 1.5c for 90.000$ of cash on 31 january 2018. I dont see why the remaining unlisted options at an even lower exercise price (1c instead of 1.5c) wouldnt be exercised.
WOW and here we got our first options exercised ! these were options exercisable at 0.015$ 6million options of these got exercised for 90.000$ directly into the treasury of BSM !
This is just the beginning ! there remains 38 million options (unlisted) exercisable at 0.015$ with expiry date set in december 2018. These are already in the money and means BSM will get in its treasury another 570.000$ in addition to today's 90.000$ of cash.
For listed options : 678 million exercisable at 0.025$ with expiry date set in december 2018. If exercised (imo they will be soon in the money) they will bring BSM : 17 million $ of cash THIS YEAR ! probably enough for the construction of stage 2 and achieving 20.000tpa+ production capacity ! with BSM soon to be cash flow positive No need for further dilution anytime soon !
Happy multi-bagger graphite and lithium investment to all !
