I think most small cap mining investors are salty at the moment,...

I think most small cap mining investors are salty at the moment, nearly everyone is getting hammered with no change to fundamentals.

My insights, there's a few potential reasons for the difference;

Options holders will typically have a longer term investment horizon than your typical retail heads holder.

The purchase price of the options 12 months ago was 0.01c - 0.02c so alot of holders will still be in the money at current trading value.

Less Options available to trade vs heads and tight T20 holdings.

If LIDAR results and drilling program updates are positive we could be looking at a Brazilian competitor to WA1. I.e. A serious rerate even at a 1/4 of the progress/resource and MC size. This would still be a $100M - $250M MC.

Options give you a 3x plus leverage, so anywhere from 25 - 55 bags is the potential upside. So parking a few lazy G's in SUMO is a decent punt.

With the small pump a few weeks back it was already 5-6 bags for SUMO holders, and that's without a drill touching the tenements and modest SP increase.

GLTAH