Management own a s*!$load more shares than oppies. If you think...

Management own a s*!$load more shares than oppies.
If you think about what is a better scenario for them:

- If they strike something before expiry date, then yes most options should be converted giving the Company $10 million or thereabouts. That also means Management will need to convert their options too, and at 4c the dilution is quite large.

- They don't strike in time and the options lapse. Yes the Company misses out on $10 million, but there is also no dilution from 4c oppie conversion, AND Management do not have to shell out to convert their oppies.

Therefore IMO the best scenario for Management is let options lapse...continue drilling till they strike something bunta...THEN raise capital on the back of a much stronger sp (20c+?) meaning far less dilution and probably far more than $10 million in the kitty.
Yes Management will miss out on a few converted shares, but holding 45% of the Company between them already Im sure once they strike they will not be too worried about a lousy few million shares, and they don't have to fork out any coin for conversion, and their core holdings will not be as diluted...win win.

I sincerely hope I am wrong and the new equipment actually does mean they will make up lost time because they sure as hell need to.
Nice to see green on the screen finally.