Hi mate, so you can convert your options to heads whenever you...

Hi mate, so you can convert your options to heads whenever you want along the journey to expiry (May 2024). You can also only convert part of or all of your options, whatever you decide. Like I mentioned before, I've sold a portion of my options in the past to help me convert to heads.

The conversion /exercise price of RR1O is $0.01. This won't change.
So anytime you want to convert between now and May 2024, you pay $0.01 per options held to convert.

ie. you want to convert all your options (4,000,000), you pay $40,000. If you only want to convert half (2,000,000), you pay $20,000.

Example:
RR1 gets to $0.03, RR1O $0.02
923,076 RR1 = $27,692.28
4,000,000 RR1O = $80,000

If you want to exercise your options and convert to heads, you pay $40,000.

So total profit made on your $12,000 investment with heads = $15,692.28
Total profit made on your $12,000 investment with options (minus $40k exercise price) = $28,000
You may also not want to convert, and just sell your options... so you walk away with $40,000 profit.

Hope the above makes sense.