That is not what DW said it was it was no equipment available...

That is not what DW said it was it was no equipment available which could have different meaning in the rest of the my post.
I my opinion the options are gone.
In the half yearly report they had $31M with a $10M trade dept and this quarter spend of $18M that leaves $3M and with unexpected work on IW2 could be less.
So the company has to raise funds and seeing the company issued the options for free they have no value to the company and the people that purchased options is between them and the seller
The company cannot rely on SH to exercise their option if the SP is below.02.
The only option the company has is to do a capital raise with an underwriter for the amount they want at .019 or less and with a free option to replace the one lapsed.
There being not enough funds for further work at IW2 and equipment is not available if have not got the cash .