IMO, the last share purchase plan has created a price ceiling...

IMO, the last share purchase plan has created a price ceiling with $30mil in options executable at $0.118.

Long story short, everytime options are converted to ordinary shares, it pulls the listed share price back down from $0.12. On the upside, the shareprice appears to have stabilised over the past month bouncing between $0.105 and $0.12 instead of $0.08 and $0.12. I expect a slow push through the "ceiling" over the coming month.

I don't know what the conversion numbers are, but it's likely people are converting early to lock in their cost-base (at conversion), to take advantage of the CGT discount available 12months+ from now. Assuming the share price blows up over the next year investors who converted early will take advantage of the 50% CGT discount versus investors that covert at the time of sale, the latter carries no discount and they'll pay tax on 100% of the profit. Unless of course they sell unconverted options...

Anyone else holding NYR?

That's just my 2 cents, DYOR, not financial advice, GLTAH