Yes you are correct as far as converting the options but I guess we all have different strategies and I might be wrong but I believe mainly small GRL holders would sell off their shares or part of their holding at .20 cents as a result of receiving the options.
If one believes that GRL are going to get lucky (many here do think that) why would you want to sell down at the listing price, maybe I am on the wrong track but I would prefer to take the risk especially with Godolphin's ground.
The company has hardly done anything much in drilling exploration and to see the share price at .20 cents is hardly surprising at this stage although I have high expectations.
Just my thoughts anyway.
Cheers!
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