I don't think sellers are going to allow sp high enough for oppies to be exercised. If your in control of large proprtion of fpo you wouldn't want the oppies being exercised and diluting your ownership. If the company needs cash why not force the oppies to be unexercised and then participate in capital raising where you can gain a benefit ie renouncable rights issue???
grades of up to 19.95 grams per tonne of gold, page-10
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