It is potentially dilutionary... But, there can only be new...

It is potentially dilutionary... But, there can only be new shares issued (and cash to come with it) if the SP trades a 10 day VWAP of 9c (i.e. average SP for 10 consecutive trading days of +9c by 30 September). If the SP doesn't get there, then the lose the options, and no dilution.

We all know they need to raise $ sometime in the next 6 months, this is one method of doing it that is less "shocking" to the SP... This is now a known element. TBH though, if the oppies do vest (i.e. 10day v-wap of 9c is achieved by 30 September), I see it as unlikely that they will be exercised until closer to expiry, nd not provide that much cash in the timeline that it is probably needed in. So this doesn't actually resolve the cap raise issue.