options, page-8

PGI doing ok and I think management doing pretty well.
You often see share prices being artificially held up when right issues or option expiry fall due.
I don’t think that is the case here ---- more likely share price being held back by the (currently 166 million) options falling due and ex @ 15 cents
For me personally, I have sold most of my options and baring some economic catastrophe intend to exercise those I have left.
Hopefully enough options will be taken up to give PGI a good safety buffer coming into production.
There is the issue of dilution, but then with a high take up we would have a more active exploration program and the upside that would offer.
Another possibility would be someone taking the opportunity to grab a substantial holding in the company by grabbing the options as their time value falls to zero ---- I imagine for 0.5 cents you could acquire a lot of options without exciting the market.
Whatever happens, a successful transition into production is the main game.
This is a very high risk time in the life cycle of a start-up company.
High risk/High reward ---- exciting times after 4 or 5 years of hard slog.
Regards to all ---- cy7