Ok. So I’ll give you my scenario. Last year when they were extremely cheap, I bought over 5 million options. Still have them now. I have heads too, which back then were around the 2.3 to 2.5 cents mark on average. The options I built up over time were obviously very cheap given they usually float around 1/2 to just over 1/2 the cost of heads.
So for my thinking, I only have to pay an extra 1.5 cents per share, so for me, around an extra $80k mark for me to add over 5 million more heads to my tally. Now, I have that money available today, but like many others here, I look at the scenarios available to me. It does not take very long to do the paperwork, pay the funds and lock it in so I figure I have time to evaluate where things are going. I do plan on exercising all my options regardless of whether or not the assay results come in a bit early or not.
However, probably also like many here, there is just that little psychological niggling going on that makes one just hold off for that little bit longer. While I do that, some of my other stocks might also get going more and I can then use some of the profit or ‘free’ money from selling off a bit of those other stocks to pay the extra $80K.
So, that is why I thought your comments a while back that nobody will exercise their options was quite strange. It was way off the mark I believe. You did get defensive about it, but I get that. Anyway, water under the bridge.
If results come in soon and are good, most if not all options will be converted. If the results aren’t here as the clock gets dangerously close to expiry, then I still believe many if not most will still exercise. We have been given no reason yet to think this is a fizzer.
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