the options are traded at a discount, a good deal!
I cant find any other company with such an upside.
Orchid has $100 copper (in situ) per share in the ground (5 mill tonnes = AU$20 bn divided by 140 mill shares and assuming 60 mill options are converted.
$100 at a price of 13 cents!
OK, we deduct 99% for costs, risks, future potential placment shares, LoI-status, etc.
Conservative enough?
then we still have a good upside to $1