Debt free and SP stagnant?, page-26

That's exactly what I'm saying though - it isn't right to count necessarily the option holders money towards the pool to pay dividends. It is true though that on a fully diluted basis that calc is being done on how much the 6.7c divvy would be... but in that sense i certainly see it like a waste of funds for equity raisings to be then redistributed back to shareholders - it just isn't smart capital management.

Don't disagree with the options being converted if things remain on the track they are though.... $22m will be a good decent amount for future exploration.