i have been thinking the same thing wayne. Would expect the information on the ratios and ex dates would be issued on 1 sept or close to it ie the day after the options expire. The rights issue would take at least a month or 6 weeks to process money and shares.
So if JV announced in the next 2 - 6 weeks and share price goes above 40-50c you will have the situation of buying rights with the options in the money . Now that doesn't happen too often.
Be a nice problem to have .
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