tnrob, page-6

I would guess that an argument along the lines of "Because the $5m in cash conversion of these options would inject into Torian would provide a material benefit to existing shareholders in the accelerated appreciation of Gold operations in Madagascar".

It may also release some of the currently pent-up buyers that may be hesitating to buy in at 0.8c due to the brake-on-SP the options currently represent at the 1c level. It may be a lot of buyers are sitting by the sidelines waiting for those options to expire before jumping in? Talk about chicken-and-egg problem.