I agree that they will not cut corners to get the options exercised. But the options are not insignificant. The cornerstone investment that led to the spp involved 12.5 million options. That is $25 mill plus those issued under the spp.
They have an exercise date of 28 Feb. Ideally, the closed loop test would need to be completed and the share price have moved up to make them attractive. Looks very line ball in this market. They will need to get the closed loop running very early next year to have any hope of achieving this.
Though, they are likely to have one more well drilled by then too!
RNE Price at posting:
87.5¢ Sentiment: LT Buy Disclosure: Held
