Ann: Exploration Update Carr Boyd, page-22

read the posts: I have said 15c is what I would ideally need the SP to be before I spend +300k exercising the options I own. That is not a small sum & I need to know that there is confidence in the stock & sufficient leeway in the price that in the event of a pull back I won’t get hit

spend $300k to exercise the options at 5 c when the sp is 15c & a 50% fall in the sp means the options you spent 5c on (plus the original cost of the options) to convert are still in profit

do the same when the sp is only at 6c & a 50% fall in the sp to 3c leaves you deep in the red

simple maths from my point of view

so if CD wants this cat to cough up the money & exercise his options, then CD needs to get the sp to 15c

thats where I get the 15c from - nothing to snap out of. It’s the price I need in order to make a decision on whether or not to spend $300+k.