fair price for options?, page-5

I think I used 40%, however played around with the Volatility as the only real variable in the equation however the range of values was as low as 1.1 and high as c. 3cents. As I said, been years since I looked at these equations so my understanding isn't what it used to be.

Whilst I appreciate, alot of people will be buying at 6c selling at 8 for a quick 33% profit, my concern is 6 c is overpaying, and whilst they may have a buyer at 8c, is this simply because the buyer is overpaying by even more...my assumption would be yes, atleast given the current SP.

Well aware of the economics of the leverage should this move to $1, however I'm not 100% convinced this will occur prior to the expiry. We are ofcourse at very early stages and they would need some decent drilling results to get us there, not simply finding a few nuggets in a ditch a metre or two below the surface.