options looking cheap

If Burey deal goes ahead the exercise price of options is reduced in line with the share price of Burey at the time. At 20c for Burey the options exercise price is 13c so if Burey were to have a good run prior to purchasing Kal's uranium land then the options will be even less to exercise. And the good news is the value of the u land is not factored into Kal's current share price so the shares shouldn't drop much at all once the uranium has been divested, at least that's my opinion. If Burey dont go ahead with the deal Kal shares may languish for quite a while as investors will be wary of Kal's ability to fund 3 core projects. Management were right to try and divest the oil/gas and uranium prospects as it would have returned good value to shareholders but with the Lou deal off it becomes very important for credibility to see the Burey deal happen.
redfrog