4u2c08. These will be the negotiated terms to the...

4u2c08. These will be the negotiated terms to the 'sophisticated' investors. The free options or partially paid are issued as a bonus to their paid up ordinary shares.

I'm not a big fan of options being given away either...there is a real cost to existing shareholders and that is known as potential dilution.

The logic of the lower strike price is to increase the attractiveness to the investors at the time. The October 2011 options were issued way back, when the price was above 2.8 cents.

Perhaps it's time to give Briggs a call and try to get some on the cheap! ;)

It is positive however, to have people lining up willing to invest money into WGP. This will lower the cost of capital as the competitiveness of funding gets more intense. The outlook is also more certain. Markets hate uncertainty and so do I.