IVZ Share Price, page-22440

20c is a critical target for IVZ.
@ above 20c, we unlock $51m of funding from exercised options. There is also about $3.6m at 14c.
Up to 40c there is another $58m of funding from exercised options.
And then a further $34m on the way up to 75c.

These options and rights have on average about 2 years to expiry and may only be exercised at or near expiry, but if all are exercised, the company raises close to $150m.

But it does emphasise the importance of management focusing on successfully delivering on the key value drivers:

• risk mitigation (PPSA, Local Ownership, Offtake Agreements etc)
• Proving resource and commercialisation (3D Seismic, Updated Resource estimates, Flow tests, additional wells etc)