The fact you think that options would be worthless at 4.5c is very telling.
See ICG > ICGOC - exercise @ 20c heads currently 10.5c options 689 days until expiry and priced at 5.2c (note we have nearly double the SOI) - the theory is still applicable.
EVR Price at posting:
5.4¢ Sentiment: Buy Disclosure: Held
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