I am a holder of BLKOA - the options of BLK, with an exercise...

I am a holder of BLKOA - the options of BLK, with an exercise price of 8 cents by Jan 2019 - (the 10th I think)

The current SP of BLK has significantly impacted, not only the current SP value of the options but also their future economic viability to exercise. I had purchased a parcel of BLK back in February 2018 and, as is my way, I purchased the options BLKOA to hedge my investment. When it became clear that the market started to exhibit a loss of faith in performance of the BOD of BLK, I sold, at a 20% loss, my holdings in BLK in April 2018. I maintained holdings in BLKOA as I concluded that the company's value, whilst then undervalued by the market, had future upside potential. Basically I took a punt that, the BOD would work through and resolve their many issues over a six month period (May to Oct 2018) which would see BLK's SP recover to a position where the options would have value.

Obviously this SP recovery has not occurred. 

So I decided to contact Blackham's investor relations directly -

Phone: +618 9322 6418

Email: [email protected]  

To request that the BOD either extend the expiry date of BLKOA or issue new options to existing option holders with a new expiry date.

Here is the thing, the company needs these BLKOA options to be exercised, because their total exercised value would be circa $42 million. A lovely bundle of money to pay down all their debts and fund the expansion and mining operations of their sulphite ore.

So if any of you hold BLKOA options and are as concerned as I am about NOT losing your money on the options, I implore you to make contact with the company and request either an extension of the expiry date or a new issuance of options of 1 for 1 currently held.

The higher the number of shareholders who express concern and make contact about this situation, the more likely the BOD will be forced to do something about it. 

It is quite clearly mutually beneficial for both the company's and its shareholders' future financial interests for them to do so.

GLTAH.

Cheers

Qi15