The share price needs to be 11c or over for the option holders to convert the GBZOB options by 06 July 2023. There's 50,567,301 of them, which if all are exercised, will raise $5,562,403.11. For mine, they need to fund big drilling to excite the market and ensure the head price is double the current 7.5c. The sale of White Dam might be the simplest way to get decent cash into the bank account.
Ann: Mayfield Project Area Sale, page-4
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