Needs options holders to exercise ASAP to inject cash enough to buy time for further silver bull momentum. Otherwise going to need to dilute with placement at lower than desired price.
Currently exercise price is 30c expiry 19 October 2024. If I was an option holder I wouldn't necessarily be rushing in to exercise, when with current geopolitical risk you could have counteroffensive from US/Israel and an opportunity to grab outright at lower prices? Depends on size of position would be chasing as illiquidity a problem for bigger fish. Just my two bobs worth.
There is some really great analysis by holders in MMA here
MMA Comparison Against its Peers, page-14
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