rotation of control, page-5

Focker, interesting theory except there have been no conversions to date as per any recent Appendix 3B announcements. Can't sell a converted option to a head until the 3B has been lodged.

I do agree that options are being accumulated for a cheap entry and that the sp will rise after the options are out of the way.

After option conversion there will be approx. 90 million shares and at 38 cents the company will be capitalised at $34 million. Downside is limited when you consider the cash and assets, jv partners and aggressive exploration budget. No capital raisings required, Probably never, the way this management operates.