Options are in the money, page-10

Mate, I have probably bought more options and played the warrants market over the years than you have had hot breakfasts.

What you fail to understand, I never said that options don't provide a better return.
The return on options is based on commensurate with risk.

In the mean time many things can take place before expiry which could both increase or decrease the value of options. My goal is to seek value.

Reading your post Graphite101, it is based on opinion and nothing factual.

I merely pointed out some of the factual milestones that need to be reached which was taken from the presentation.
Secondly, I also pointed out that I hold the heads for the long term.
From my neck of the woods that implies longer than 12 months.

As for options:

3/01/2017 the options were trading at 3.3 cents.
3/01/2017 the heads were trading at 5.4 cents.

6/04/2017 the options are trading at 1.3 cents.
6/04/2017 the heads are trading at 3.0 cents.

Three things I base value on when buying options.

1) Difference between conversion rate
2) Liquidity
3) Time until expiry

Buying at the beginning of January was far less risky than what they present now.

1) Options were undervalued in comparison to the heads.
2) There was more liquidity in the market with options being converted.
3) More time to sell or convert at a discount.

The ROI is riskier than what it was at the beginning of the year.
Plain and simple.

You see Graphite101 we may differ with our risk appetite at various levels.
However, that does not mean our decisions should be demeaned just because we don't agree.