Ok, I get what you are trying to say, but if RML touches 3 cents...

Ok, I get what you are trying to say, but if RML touches 3 cents before 2025, the holder will convert the option by paying 1.5 cents to the company and getting a share to replace the option, which he can then sell for 3 cents. So he would have paid .2 plus 1.5 to sell for 3 cents, or he could sell the option to another investor before expiry for 1.5 cents so his .2 goes 7 times with a sale at 1.5 cents.

The risk is that it doesnt get above the strike price, so if you think RML will not go above 1.5 cents before 2025 dont buy the option as even though you can convert it at any time up to expiry, if the option cost you .2 and the share price in 2025 is .8 you would be better letting the option expire and buy shares on market at .8 rather than pay the 1.5 cents to convert the option to a share.

If you do think it will go above 1.5 cents before expiry then RMLO will give you significantly more leverage for each 10k.

If you think 10 cents is possible before 2025 then you can possibly make 425k from RMLO instead of 100k RML
If you think 20 cents is possible before 2025 then you can possibly make 1mil RMLO instead of 200k RML
If you think 30 cents " etc then 1.5mil instead of 300k
If you think 40 cents etc then 2mil instead of 400k
If you think 50 cents then 2.5mil instead of 500k
If you think $1 then 5mil instead of 1mil.

It all depends on what you think is possible but as soon as RML clears 1.5cents your "in the money" and the option leverage as you can see really maximises the return potential.

GLTAH, DYOR, Not Financial Advice, just an general explanation of how options can work