could this explain the recent sp correction?

EXERCISE OF OPTIONS
PAGES: 9
Please find following ASX Appendix 3B being an application for quotation of additional
securities in the Company pursuant to the exercise of 535,000 options exercisable at $1.10
per share with an expiry date of 31 December 2004, and 110,000 options exercisable at $1.10
per share with an expiry date of 31 December 2006. The conversion of these securities raises
A$709,500 additional capital for the Company.
SCOTT SPENCER
DIRECTOR