Exactly, the closer they get to expiry, the more the time factor...

Exactly, the closer they get to expiry, the more the time factor will erode their value.

What you want if you're holding them is the sp of MAK to get enough above 75c early enough for the best increase in price of the oppies on market. If it gets too close to expiry and the sp is only marginally above exercise price then there will be a point where no one will want them.

I agree with twincreeks assessment above, if the sp gets to $1 early enough before expiry, MAKO could be a ten bagger from 1.2c.

If MAK gets to the sp Legend has been at for quite a while now, $1.20 (same number of shares in each company, could happen given enough things to go right) then the 45c difference would translate into something even better than 12c.

I'm not saying it will, but then again I'm not saying it can't happen.