Agree @debono.I think it's a conversation worth having.Nobody on...

Agree @debono.

I think it's a conversation worth having.

Nobody on HotCopper will convert their SCGOA's. For two reasons:

a) The premium is too much - so why indicate otherwise?
b) Is anyone really going to contact the company, get the form back, organise the money, send it away, wait for conversion confirmation etc etc?

No, of course not.

So fully diluted market caps are meaningless. No one wants to convert. Especially while the well is being drilled.

People are playing the oppies for the leverage. For inexperienced players tho, there will be little depth to sell into if you need to get out.

It's gambling at its finest.

Thirdly, oppies take the focus away from the shareprice. The oppies value is as dependant on the share price, as Andrew Ridgley was on George Michael in WHAM.

Since XST has become gamified, I wish there was only one entry into SGC. Unfortunately SCGOA's provide much more distraction than their worth.

Above is not financial advice and my opinion only.