the options AGOO & AGOOA were issued with no monetary collection...

the options AGOO & AGOOA were issued with no monetary collection by the company. Moreso given to investors to encourage to cough up for cap raises.

If option is exercised then the option holder would hand over 7.5c to the company to exercise. It is highly unlikely this will occur when AGO is 1.4c as they would effectively be buying AGO at 7.5c rather than current market price of 1.4c so reasonable to expect if someone held options and wanted AGO they would buy on market rather than pay over 5 times the price by exercising the option.

Not sure why existing AGO holders want the options to expire because if they were exercised then it would add another 50-60% shares to the registry but at the same time would raise the company about $400 million in cash which would ensure a long future as when options are exercised the company issue a share and receive the 7.5c in cash in the process of converting an option to a share. Given the entire company is valued at $130 million based on market cap, if the options were in the money AGO share price would be above 7.5c.

Options can work both ways. If you got for free and they are not exercised, nothing gained, nothing lost. If you paid for options you will lose your capital when they expire. If you exercise at 7.5c because the share price is 10c then you would have a gain of 2.5c for each option.

I bought AGOOA options and at the moment I am two months away from kissing that money goodbye but notwithstanding if iron ore was at $100 USD a ton I would be retiring in 2 months time due to holding the options.

So ultimately, they are high risk/reward and a few months ago, buying was certainly looking like a good idea but with hindsight many would not have bought.

We all try and guess what will happen in the future and one must be in it to win it.