ICGOB Options - Are you converting them?, page-6

I agree.

Another thing to remember is that the OB's are currently causing some downward pressure on the share price, due to some holders selling down their share holdings in order to fund conversion of the options. Once that process is over then we should see further gains in the share price - due to both a reduction in the number o f shares for sale, coupled with the company then having additional funding to advance planned drilling of Australian targets. A positive announcement (or two) in the interim will only amplify matters.