no time value in mff oppies, page-6

I think you will find that some of the explanation in the options having a lack of time value is that there are quite a few options to be exercised should it expire deep in the money. Hence it will be reasonably dillutive on expiry. So you should probably look at the number they quote when accounting for issuance of options.


Regardless I think there is a real possibility that MFF has a recapitalisation in the near future and these options will get taken along with it (a good thing).

We should be rewarded for holding them on any recap.

I suspect Chris Mackay would like this LIC to resemble an overseas version of AFIC.

all in my own opinion of course