Pellatan,
I agree with you that lack of liquidity is a key issue if you don't plan on converting before expiry and hope to sell.
Just to highlight a few key milestones to be reached.
DFS expected completion 3rd Quarter September 2017
Secure Offtake agreements 3rd Quarter September 2017
(Hopefully to convert Chinese Battery Producers from MOU's to Binding agreements)
Project Finance 2nd Quarter June - 4th Quarter December 2017
Pellatan, it's a long time between drinks and a lot can happen along the way, both good and bad.
From my perspective, I have bought and sold options along the way.
Also converted some a while ago.
At present, I sit on the heads and see the story unfold over the long term.
If I see value in buying options from now until they expire, I will buy.
As i pointed out previously, currently I don't see the value compared to risk.
Options are in the money, page-8
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