Directors Wood and Flavel both have 45m 1.5c options that expire...

Directors Wood and Flavel both have 45m 1.5c options that expire on 31/12/09 - that's $675k each to exercise them. There are 148m of these options in total which equals $2.22m capital raising if they are all exercised.

This cash will very much be needed by the end of the year to get further exploration going. I'd say Wood will do the biggest spruik ever over the next few months to get the share price up, so that he and his mates can sell a few shares to fund the options.

I'll have a guess that we see a share price of 4-5c over the next few months.