Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-80

kiwi, options for sure are a good play. we need to get to 75c plus for them to rally meaningfully. I bought shares not options recently as I already have too many options and options get hit if we have an fda delay and can't progress pre nov options expiry.

I modelled shares vs options in various scenarios and whilst I don't really see it happening at around 1.15 ish the options massively outperform shares in the short term. it's huge payoff.

for those wondering how par come up with 75 mil aud, for p3, the options get the company 35m (from memory). add in tax rebate / a royalty deal / short term funding and anything else Scott Williams can think of and maybe (to mozz's point) we don't even need a deal (yet).

personally I want and expect a deal. we need the commercial validation, even if only from one region to get the auction going in other regions to my mind.