new ann, page-36

the option has been sold for less than it's intrinsic value.
options have an intrinsic and time premium (depending on amount of time until exercise/maturity date

for example if you had something worth 50 today would you sell someone the right to buy it in 1 years time (exercise price $40) for only 10 or less (it's intrinsic value ie: spot-exercise price) of course not.....but you might sell that right for 15 or 20 (ie:intrinsic + time premium)

It is only $5m (small fry) but macquarie have cleaned up here, they have bought an option (dated dec13 from memory) for the intrisic or less (gold is $1657 atm) they have paid no time premium.

This is not the issue for me, the issue is the fact they keep raising small amounts of contigency funding.....without an explanation in regards to any problems, that tells me some miscalculations have taken place or we are not hearing the full story.