As per Magic2000 post. I would like to add that the options have...

As per Magic2000 post. I would like to add that the options have MORE risk in that there is a deadline before the options become worthless. The biggest advantage of options over shares is PROFIT. Most people that buy shares set limit to spend, say $10k. The options currently are less than half the price of the share - for your $10K will will get more than twice as many options compared to shares. Now if you believe that the BLM will give approval and further drill results will be positive, then you probably also believe that the share price will be 50c plus in Nov. Once the share price is over 12c then the option price will generally lag the share price by typically 12c (the conversion price) in which case in our 50c example, the options will be worth 37.5c. Now look at the percentage increase in the shares compared to the options. Yes, you have made a LOT more profit having the options as both the shares and the options have had the same approx 30c plus increase, it just that you have a lot more options. Remember the risk though, if the SP falls below 12c before Nov then the options are worthless. whereas, the shares will still be worth something in Nov even if the price is less than 12c.
My thoughts, I have both, seriously, if we have not had that BLM approval and found more Li by November then there is a problem and the SP will not be worth much anyway. This is a speckie stock but if everything goes to plan, we could be the next PLS.