shareholders action group, page-27

I see your point but why the hell have a ex price of 2.5 cents for options? may as well make them shares and have a spp instead at 2 cents really. it will raise sweet fa and in 6 months they will need more money if they partly pay for a new lease or jv 9 million wont go to far when ppl convert. so if they have ex price of 5 or 10 cents they raise double the money or more( 18 or 36 million is better) ( if and when ppl convert) instead how this option plan is now as is then have to do another when the money runs out and even further dilution again so doubling the options ex price makes less dilution. for down the track that clearly make sense to me.so make them 5 or 10 cents to convert .

or they could have options similar like that of MGK- mil resources when you convert there options into shares at ten cents you get a secondary option with ex price of 15 cents and there long dated too just like MHL ( read the mgk annoucments to find out more),( your getting rights to 2 sets of options )

so something like all current options which are issue at 1 for 2 shares with a ex price of say 5 cents. and a secondary option for each share you convert you get 1 new option for 15 cents

so that could be
mhlo 364 million options with convert price at 5 cent would raise 18 .2 million if converted.
and for each of those option converted to share you get a secondary option at no cost with a price of 15 cents to convert.
mhloa 364 million options @ 15 cents - 54.6 million

now that is a way to reward faithful shareholders! what do people think of that?



it will hit 5 cents or more easy on a signing of a jv weather its with sentry or something bigger and better if sentry pull out,either way then guess what they will need to get more money after that anyway .

and who would complain if they had another spp in a six months? EVERYONE!


it is very possible they "could" drill a hole this year, they just need to do a little more extra seismic and we are away.