The 3.1c options do not need to be exercised until the end of 2022 , so probably after Cervantes has been drilled . The 4 c options were made to all share holders and expire by the end of this year . If they are all exercised MEL would receive $7.3 million , would be enough to pay their share of Cervantes .
There are a lot of catalysts that could get those options in the money before the end of the year .
MEL Price at posting:
2.4¢ Sentiment: Buy Disclosure: Held
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