options expiry

I won't go in to the drill specifics - john has covered that fairly extensively. Suffice to say, it's a campaign that is worth having a punt on.

Key issue for the next quarter is cash. They need to raise it.

Leads me to look at the 26m options that expire in a few weeks.

Conversion will add $5m to the kitty. To raise this at current prices will mean issuing approximately 60m shares (as opposed to 26m).

There's a corporate incentive at play here. The company will want the options underwritten and to do that, they need news flow. Will be interesting to see how hard the price is pushed in the next few sessions.