Ann: Appendix 2A, page-7

“….if you don't think the price is going to rise any more over the next year.”

If you don’t think the price of “silver” is going to rise and rise substantially over the next year, then I think you’d better do some more homework. A rise in the price of silver portends a rise in SVL and every other silver related equity / fund on this planet.

As you are a non-holder of SVL, you are clearly not seeing the some picture that a vast majority here, are seeing.

Yes, acquiring heads at a bargain price, by exercising now, allows them to sell into a more liquid ‘heads’ market. It also guarantees them fully paid shares past the SVLOB expiry date, riding a longer silver wave into the future.

If they are a fund, there may be a requirement that they realise their profits and move on. Who knows! – who cares! No big deal, just more heads for others to purchase at perhaps a reduced rate if they want a quick exit.

It certainly doesn’t alter my plan on how I manage my bag of SVLOB, on the back of the future rise of silver.