These options are a very high risk, high reward play, with only 4 months before expiry. In saying that, some risk has been reduced now that the heads are sitting right on the strike price. Any further upwards movement and the OB’s are in the money, meaning they’ll track the heads more closely.
One thing is certain; that management will do everything in their power to ensure the options are converted, as it means another ~$6.3M in the bank to fund exploration.
My money is on the high reward potential of this play coming to the fore. Fingers crossed I’m right, as I’m sitting on a metric shite-tonne of them.
VAL Price at posting:
1.5¢ Sentiment: Buy Disclosure: Held
