The options are a double edged sword for those shareholders who...

The options are a double edged sword for those shareholders who don't own them as part of the CR. If we go past 10c before the expiry then they are likely to be exercised. This creates dilution but brings money into the company. If we are at approx 15c at expiry then fair enough but if we are at a dollar then they are one hell of a gift. That is the uncertainty of the exploration game.

Obviously we all want as high an SP as possible and hence see the options exercised in the future. If we are at a dollar in 3 years then shareholders will be happy and the dilution will be acceptable which is a far better scenario than being at 3c in 3 years!

I agree that 2 options was too generous especially in light of the work done on Kempfield and the prospectivity of the gold targets. Would have been better to raise at 2.8c with one option imo but it is what is and is really only a side show to how the funds are used to progress the company.

BTW a whole heap of options went unexercised recently, I hope in 3 years that the options in this CR are well and truely in the money.

Some nice buying today.