If the shares are down the options will be priced according to the shares - down but not much less than 1 cent. That's a fare assesment.
Hence shares should have been sold for 6 - 7 cents with money put in the bank.
Options then bought for 1 cent. If options fall to say 0.5 cents use part of the banked funds to buy up if the story justifies.
The secret to this diabolical company is risk avertion. A near 1 for 1 option offer gave the cleaver the chance to recoup their funds (win or lose) and a chance to stay involved at far less risk. Even top up as necessary.
Holding at 6 cents means if the shares go to 12 cents you double your current value (100%). Hold 1 cent options and the shares go to 12 cents and the options will be around 4 cents (400%).
I advised the same strategy with the previous options when they were 0.5 cents before Para 2# was drilled. The options went to 4 cents delivering an 800+% return.
I and others were rubbished for the idea but there you go.
If you don't understand these clear and simple opportunities you cry all the way to the next day dream.
Anyway the share sale and options oportunity has gone so good luck for the future. But be sure if your getting options at much less than 1 cent in the future the company has no real future with Golden Eagle so be warey - very warey
GDN Price at posting:
11.8¢ Sentiment: None Disclosure: Held
