most likely reason in my opinion robertch is that the person...

most likely reason in my opinion robertch is that the person converted in preparation for a capital raising by the company, however, I think a capital raising may be some time away, because cts would most likely want to have a fully defined resource before they set about raising capital for a mine. Nonetheless conversion of 2.6 million options over a year before they are required to be exercised is a great sign, should provide a slight cash injection to the company as well.