The options look to have a two year expiry, so you can exercise...

The options look to have a two year expiry, so you can exercise them anytime you like, up to the expiry date.
Doesn't matter if it's a month after you get them or in two years time at expiry, you will pay 30c regardless to exercise them for fully paid ordinary shares.
What you are hoping, if you hold them, is that the FPO shares will be valued at multiples of that 30c.
Or you just may want to sell them off anytime at a price greater than half a cent.
I would imagine once issued and listed on the ASX that if the SP is around what it is now, 30c then the poppies should find their feet maybe around the 4c+ mark?
Who knows we may get great news in the meantime and the FPO is around 50c, oppies could be 10c, again who knows.
Anything can happen in this casino called the ASX!