New Option Issue

More than likely our listed options - SGQOA - that most people paid good money for - will shortly expire worthless.

Although while SGQ continue to drill, there is a chance that we do hit something that will take the SP considerably higher.. and perhaps even back over 20c  -- at this stage it is not the most likely scenario.

As we have all been very loyal holders/ supporters of SGQ -- and in this case will be going down with our options -- I am opening this thread/ discussion to suggest that option holders contact the company ( JP 0411 421 253 )  and suggest that SGQ could make a new issue of options.. to option holders.. ie on a 1 for 1 basis.. or something similar.

Finer details, as to strike price and expiry date can be varied, but it would at least be "targeted" to the existing options holders in the first place -- who as stated above -- will likely lose their entire investment.

The shareholders of SGQ would also be given the same opportunity to subscribe/ apply -- as the offer cannot be made to option holders in isolation.

I have already spoken to John about this possibility, and I am sure that should many more people contact the company.. we could encourage/ persuade such a development

Imo.. JP and the board also carry their fair share of responsibility/blame for the current SGQ price, outside of market forces, and with the benefit of hindsight, would have done a few things differently in the past 12 months which in all likely-hood have resulted in SGQ not trading at the current miserable price of 13.5c

Power to the option holders..