options

Interestingly the March and June '11 oppies are well in the money. Once they are converted another $2,947,502 will be in III's bank account. Although they could well be cashflow positive by then and may squirrel it away for phase two of their project development.
I like the way they only seem to only raise enough to get them through to what they consider ample for their next stage of the project rather than having large dillutions. Whether they feel they will have the tailings revnue doing enough or the offtaker agreement will be done and dusted by 1Q'11 is anyones guess. The $1.275m just raised will definately last till then. I am hoping for a gradual climb to .35cents over the next few months. I don't think that is asking too much in light of the fact J.B. thought it was worth .45cents prior to the 40% JORC resource upgrade announced three weeks ago. I think there is still less than 120m shares out there.
Cheers,
Stumpy.