i wouldnt touch the oppies with a ten foot pole, page-20

re: i luv the oppies don't remember him insulting me and I have a lot of oppies.

In the end there was little substance to his opinion - he didn't even point out that the implied vol is too high - just said it could take a long time.

The options will remain expensive for as along as there is the potential to sign a single JV with a value equal to the market cap of Range. While there is the potential to sign a hundred of the same value jv's there will always be a bid for the options.

In the end it is the current holders who control the value of the options - if they don't sell them then they stay expensive. There are less than a dozen people who could alter the price of the oppies in a sustained way and they 'seem' to have been very patient. Before June 1 player sold 85m and only managed to push it down by about 0.3c relative to the heads.

All that said - I wouldn't touch the oppies with a 10 foot pole either - but then again I am talking about touching the bid not the offer . . .