Ann: Notification of cessation of securities - WMG, page-5

Good question Mr. Bone,

It would seem that whoever owns those options can buy 15% of the company for $4.8 million at any time up until the expiry date.

So who owns them ? Let's see , the project being worth $Billions in the not too distant future will be a tidy payday for the lucky owner .

The share price today is of no consequence when looking at the bigger picture , It's he % of the company that is held when the music stops is the name of the game here.

Consider this.

If Golden Boy went out and found the high grade MS 2.5 years ago for we the share holders (Like he was supposed to do) his personnel holding would be significantly smaller at this point in time due to the rise in share price caused by the market reacting to the good news and the FOMO that is generated (Chalice is a case in point) , "Grade is king" and he knows it.

The longer the share price remains low the wealthier the insiders who get the opportunity to accumulate , without affecting the SP , will be when the "Natural owner" takes possession of their shiny new late model multi metals asset .

According to @GeoFiji before he was silenced BHP are the natural owners of the project which makes sense when considering that Dr. BG is one of their own and has been part of the woodwork around Mt Keith since it was owned by WMC.

The end goal has now become very obvious.

MTD021 being exploited when is was stumbled on two and a half years ago would have upset the apple cart and multiplied the share price by X% which would have divided the % held by insiders by Y% .

IMO the natural owners putting their order in for a shiny new deposit 5 years ago has enabled the insiders to implement a strategy that maximises their personnel exposure to the upside that will inevitably occur upon the asset changing hands at a time that has most likely already been decided over a bottle of red and some upmarket meat.

So Golden boy doesn't need to sell anything (See CRUX interview) he just needs to be seen to be doing the rounds .

IMO , The Sale of the asset has already been negotiated and all that remains to be done is to dot the I's and cross the T's and make sure that the people who matter are holding as much as possible.

WMGAE : OPTION EXPIRING 15-JUL-2025 EX $0.30 16,000000.

15 web pages

It seems you're referring to a specific options tranche for Western Mines Group Ltd (ASX:WMG) under the code "WMGAE," with 16,000,000 options expiring on July 15, 2025, and an exercise price of $0.30. Let’s dive into what this could mean based on available context and reasonable inference, as precise details on this exact option code aren’t explicitly confirmed in the latest public announcements.

Western Mines Group Ltd is a junior exploration company listed on the ASX, primarily focused on nickel, copper, and gold projects in Western Australia. Options are a common tool for such companies to incentivize staff, directors, or investors, and the ASX assigns codes like "WMGAE" to specific option series. The "AE" suffix typically indicates a particular issuance, often tied to a date and strike price, though exact decoding requires the ASX options register or a company announcement.

Your mention of 16,000,000 options expiring on July 15, 2025, with an exercise price of $0.30 suggests a significant block. For context, WMG’s issued shares are in the hundreds of millions (e.g., around 76 million as of their 2021 IPO, with subsequent issuances), so 16 million options could represent 5–10% of their capital structure if exercised, depending on current totals. The $0.30 strike price is notable—WMG’s share price has fluctuated recently between $0.15 and $0.44 over the past year, closing around $0.21–$0.24 in late 2024. As of today, February 25, 2025, let’s assume it’s still in that range unless a major catalyst has shifted it.

If these WMGAE options exist, they were likely issued around mid-2021 to early 2022, aligning with a typical 3–4 year expiry term. The IPO in July 2021 raised funds at $0.20 per share, and options at $0.30 (a 50% premium) would’ve been a reasonable incentive at that time. However, no public announcement explicitly confirms 16 million options at this exact strike and date. For comparison, WMG reported 466,670 options expiring unexercised in November 2024, but those were a smaller tranche, and their strike price wasn’t specified in the notice.

What happens by July 15, 2025? If the share price is below $0.30 (plus any transaction costs), these options will likely lapse unexercised, as holders won’t profit from converting them to shares. If above $0.30, exercise could dilute existing shareholders but bring in $4.8 million (16,000,000 × $0.30) .

I don't know anything,