Sure, there are a heap of options and performance rights on...

Sure, there are a heap of options and performance rights on issue, but both securities are literally worthless if the vesting conditions/exercise price aren't met.

The vast majority of options and performance rights on issue require order of magnitude increases in the share price here (x2, x4, and more). They are almost worthless otherwise (not worthless because obviously, optionality, duh).

Anybody who buys in at 1.2 cents, where the price has been sitting for the last three months, should be very happy if the price hits 2 cents. If it hits 4 cents you've almost doubled your money twice.

The dilution has been hard on buyers who got in between 3 and 6 cents, sure. But that's the game in this end of the market. Nobody buys sub $30M market cap explorers because they want dividends and a safe place for their retirement money. There's also been plenty of time to lower down the average. I got mine down to sub 2 cents. I expect to see BTR to get to about 3 to 4 cents based on the assets, peer comparisons and new leadership. Obviously DYOR and don't buy stocks based on the advice of strangers on the internet.