I had assumed that the expiry was Sept 30 (lazy on my part)...

I had assumed that the expiry was Sept 30 (lazy on my part)
>>>>>>>Wrong to ‘assume’ and lazy? Yes.
The expiry date has been regularly posted and confirmed in multiple HC posts for the last 3 years? Sept 6^th has always been the final day to exercise these options.


Today I noticed the OBs stopped trading and the alarm bells rang in my head!
>>>>>>you took your eye off the ball.

I get home and there is the option conversion notice in the mail (why was it dated Aug 18th? Shouldn't there be a full month's notice?)
>>>>>>>>>>>> listed companies have no obligation nor should they need to spoon-feed investors who are too lazy to take responsibility for their trading.

And no BPay option - only cheque (too late for that) and bank transfer (which I can manage)
>>>>>>>>>>>> how many payment options do you need?

I have dodged a bullet that would have cost me $28K but I think the company could have handled this better (ie earlier notification maybe with follow-up and making the expiry end-of-month - I thought that was standard - is that not the usual thing or do I just have a bad memory?
>>>>>>>>>>>> it is YOU who should have handled things better, not the company. Take responsibility for your trading. At least it appears you managed to ‘save’ your $28K

I've dealt with lots of options over the years)
>>>>>>>>>> I hope not the same way as you have dealt with these!


I suspect that they might end up with lots of expiring well-in-the-money options which is a criminal waste
>>>>>>>>>> I would suggest that most option holders were well aware of their rights to exercise on time and would have prepared and actioned the process with ample time.

(unless there is someone in the wings waiting to scoop them up)
>>>>>>>>>> no-one is in the wings. You either bought them on market or you didn’t – there are no freebies!

Many investors are inexperienced or lazy/distracted/forgetful (as I was this time) - you'd think the company would make a bigger effort .
>>>>>>>>>>>>> if you are any of the above, you should not be trading. Trading is not Kindergarten game and companies should have no need to wipe noses. Traders need to make the effort to safeguard their investments and their money.

I recently paid up to convert some options in a different company and I had received multiple email reminders from a director (perhaps this was going a little too far the other way) but they had a very high conversion rate in the end with a heads price not far over the line
>>>>>>>>>>>>> every company runs differently. Exercising options that are ‘in the money’, is always an ‘extra’ source of revenue for the company and in most cases, a bonus for the traders who exercise.

Anyway, all's well that ends well
Hopefully the sp can take off now (on the tail of a long anticipated upward move of silver)
GLTA
>>>>>>>>>>>>> that is what we are all waiting for. With my options exercised, I now sit and wait for the future unwinding of the Comex short positions and development mining approval. The inevitable price surge in silver will put big smiles on all our faces.

PS – sorry if I sounded a bit harsh on you “sasa”. Hope you learnt a good lesson here, without my niggling.