When teh shares and ITM oppies are counted it's 150pc diluted....

When teh shares and ITM oppies are counted it's 150pc diluted. So at same price M.C. circa $12 million. Which is probably reasonable, even lowish, for this level of spec upside.

Howvere with in the money options there'll be at least some selling, not by traders alone as seems to be the common inference, but by people who were compelled to increase their portfolios beyond what they may be comfortable with, or who would just prefer to take some risk off the table for whatever the reason. So short term downward pressure form Mid May.

Beyond that, the SP is really dependent on what costs and resultant dilution comes from converting the exploration rights and funding exploration. That's completely unknown, and can't even be speculated at currently. If a great funding deal is negotiated pending initial results the market will like it, if highly dilutive share based funding is gotten at highly dilutive levels (e.g. lucrative performance bonuses and oppies) that greatly benefits the DRC mining stalwarts, the market will react badly.

You are also somewhat at the mercy of what happens with AVZ and 4CE as well, many of the same fingers are all in these 3 pies- so BMZ will be judged partially on the actions the related parties take in those other two investments. (A look at the histories of major shareholders and directors across all three companies shows a spiderweb of linked histories and relationships).