Hey rennies, I wonder if those 35 million options were exercised today. Probably not considering that todays NGF price ended up below the 20 cents exercise price. I guess it just depends on whether the entity which owns them wants to take a reasonable stake in NGF going forward.
Perhaps someone wanted to keep NGF's price down so that the 35 m options were not exercised thereby diluting existing shareholders I guess it will all "come out in the wash" tomorrow or next week. The 7 and a bit million dollars from the options would push NGF's cash well above $50 million which is not to be "sneezed at" despite the ongoing Lehhman Bros "hedge" saga.
Goggo
DYOR
NGF Price at posting:
18.5¢ Sentiment: LT Buy Disclosure: Held
