options expiry question, page-4

They will expire worthless.

Reasons:

1) JV will NOT get them over the line IF, as has been stated here, the JV is done and dusted THEN the market has factored it into the pirce. Earlier today an email from Range was posted as saying that the JV is a done deal (or words to that effect). IF it's a done deal, then why would the SP go up on that basis? Usually a SP goes down on confirmation of a rumour .....

2) Range's recent history of 'good' announcements has done nothing for the SP, whcih indicated to me that the market will not re-rate Range until the drill bit hits the dirt!

3) Drilling is hoped to be sometime in the 3rd quarter ..... which translates to sometime late next year! NO junior exlorers meet long term timetables. Even Artful has posted as much.

4) Further delays are inevitable!