Yes, directors can vote and they are large holders. Most share...

Yes, directors can vote and they are large holders. Most share holders own options and cannot vote. IMHO should pass resolution and easy victory.

If you sell BMGOA now at 0.1c and most of option holders got them for free and holding less than one year (ie no discount on capital gain), you will be subject to large capital gain tax.... Ie about half of 0.1c profit goes to tax man. That will put a smile face on tax man.

If you hold out BMGOA, IMHO you can ride off tax as capital loss and worthless which you get half back to off set capital gain of other stocks. If pass resolution (most likely) and subscribe at 0.1c, there is a good possibility new options will worth over 1c if BMG shares worth over 3c on good drill results. That is 10 folds return from 0.1c option price.

New options if exercised will bring in $6.9 million which directors have large option holding put their own money in to pay for their own salaries. They exercise their options to pay for their own salaries. If you look at their quarterly spending, $6.9 million essentially will last 3 years from 31 December this year. I consider that as one off dilution, which is not really a dilution if you hold options of equal amount.

Further, if all new options get exercised we will have a total 900 million shares with $6.9 million cash (last about 3 years), even 5c a share is only $45 million company if we get good drill results.