I'm not sure what "Performance Rights" are and how they work. If...

I'm not sure what "Performance Rights" are and how they work. If they are anything like what the U.S. equivalent is of a stock grant, then it would not seem that they are taking any risk by converting them to common shares - just free money basically built into the compensation plan. None of the 2,000,000 options @.2145c exercise price seem to have been exercised - that would be a lot more telling to me.

Like I said, I'm not sure what stipulations there are with performance rights in AU, so if someone has a better understanding, by all means correct my ignorance... just pointing things out as I see them.

On a side note - I find it awfully coincidental that those options are exercisable at .21c and that .21c has been the floor for quite some time now. If they were issued relatively recently, then I guess it would come as no surprise.