Finally a glimpse of what it’s worth!, page-15

options strike is 1.8c.  so whatever heads settle at - deduct 1.8c and thats where options should be priced at when dust settles

heads closed 2.3-2.4c - so oppies closed at 0.5c.  and mind you some people would have made 50% intraday on their oppies also - hard not to recycle before buying back in

if options start to lift above heads minus the 1.8c its on increased expctation of future gains in heads price

options convert to shares - so there's no cap on option pricing. 

options do provide significantly more leverage.  and you;d think risk is upside given the general metcoal price environment is seen as strong and strengthening atm and this is already  what you;d have to say is an emphatically underpriced asset base

USD$586M NPV for OEDP after  paying back $USD276M in capex - and thats before considering asset values for 87% Ovoot reserve left over, the rail line rights and the road asset value and any ex-AKM toll earnings

On a stock valued ~$65maud.

So long as market is comfortable on metcoal margins remaining just solid - let alone strengthening - the intrinsic massive undervaluation should propel the stock

think it tells you why a billionaire like Mr T - whos not been in resources before - was attracted enough to take such a massive position

he obviously knows about big free cash flows