At one stage today the AXOG's were cheaper than the AXO's -...

At one stage today the AXOG's were cheaper than the AXO's - didn't make sense.

AXOG's have the same upside as AXO with the AGO share price above $2.85 AND the downside is limited by the option to take 95c payout (plus 3c interest)at end of June.

Given that the AXOG holders can get 98c returned at 30/6, anything under 98c is like buying a 3 month CALL option on AGO for nothing! With the high volatility in AGO, such an option would surely have significant value (10-20c maybe??).

I hold AXOG and AGO.