seems a bit strange, page-16

With about 33 months to options expiry you would expect BCCOA to trade at a premium to the conversion price vs fully paid price. If the heads went to 20c in the next, say 6 months you could expect the options to sit around 15c.
So if buying heads at 8c a 150%gain vs buying options at 3c a 400% gain. The options offer far greater leverage at the moment, imo.
BCC is in the same game as BUR and also have long dated options at a 10c conversion and they trade at only a 2-2.5c discount to the heads. Once again makes BUROA an attractive buy at these levels.

Cheers Mal