I am really annoyed that the options have been offered at 7c....

I am really annoyed that the options have been offered at 7c. The problem is that even if they are voted against in May, the market is still going to react as if the company is on its knees with this unbelievable options offer with a strike price below the share price.

Existing shareholders that aren't valued are copping the full brunt of Lindsay's careless mismanagement.
i remember saying a few years ago that I thought Minbos had more potential than any other stock I held but proven management was the biggest risk.

I am still optimistic that we will see handsome rewards by holding this stock. I don't believe the phosphate plant has too much complexity and I feel that commissioning and production are achievable and will see us realise our true value.
The reason we are in this position is because Lindsay has drawn our funds down to nearly empty without having any binding agreements sorted. "Trust me we will get a deal done" is not good enough. When others perceive us to be in a desperate situation, they realise they have the upper hand and skew any negotiations to their advantage.

Shoring up the company funds should have been done before we were desperate and at higher prices. Even now, I don't understand why they aren't simply raising funds at 7 or 8c with no options. Even if it's not the entire balance needed (assuming IDC is secured), it gives us a strong financial position and along with some cost cutting would give the company a stronger hand and more time to find the right partners for our projects.
I just don't understand the panic and hasty decisions right now.
Anyways, I am sticking it out and I expect the company to get it's shit together and even come up with some pleasant surprises particularly with our compelling green ammonia project.
Once again time will tell whether Merchant or Chuk was right and that time is yet to come.