I thought for sure those ICGOB would have sold out like hotcakes.
9c strike and 31 July 2021 expiry. Already in the money with 4 months left to run.
My thinking is all ICG have to do it get a drill rig spinning at Riqueza or Frewena and ICG is 20c. That would value the ICGOB at 11c.
You'd make close enough to 100% on the heads but 687% on the options. Not to mention they are 1/6th the price of the heads offering much more bang for your buck.
A little bit of a punt with the short dated expiry but if they were a sure bet they wouldn't be 1.6c!
Ann: Geoscience Intersects IOCG-style Sulphides Near Frewena, page-61
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