You are absolutley right preempt. my reasoning to this is that...

You are absolutley right preempt.

my reasoning to this is that it would be that by having 2010 options, consort is able to excersise options to keep topping themselves up to 19.99%.

Say for instance, way down the track, range do a capital raising, this will dilute consort to less than 19.99%, consort can excersise a few oppies (make sure you keep it under 20% consort!) and all is sorted, back to 19.99%. This way consort is always assured of having their maximum allocation regardless of dilution. if RRSO expire worthless, consort wont be able to excersise their 575 million options as it will put them way over 20%.

Another reason for 2010 expiry, pre-empt, is that say if you forgot to excersise your oppies (heaven forbid), and consort excersised all theirs that expired at the same time, they might hit over 20%, they can't assume everyone will excersise their ops. its better for them to make their move after the fact to ensure they don't hit over 20%.

in summary (IMHO), consort 2010 oppies are a vehicle to allow them to keep their holding up at 19.99% regardless of future capital raisings, placements and dilutions.

consort is key!