Ann: Horse Well hits further Copper & Gold Mineralisation, page-31

I’m actually buying up options at 0.4-0.5c at the moment. I’m going to convert them regardless of SP at the time - unless SP is below 1c which seems highly unlikely. For me it’s just about the holding cost as oppies attract no premium at the moment. Say for example I want to buy 5m now at 1.5c. Why tie up $75k now when I only need to tie up $25k and defer $50k until end of May. And if some distaster hits my exposure is limited to $25k.

For me it makes no sense to buy heads over oppies currently unless you’re in for a ST trade. Others might see it differently which is great otherwise I wouldn’t have been able to get all the oppies I was after at 0.5c