what a joke, page-6

Only 2 real reasons.

Lack of faith or lack of cash.

Lack of faith that the SP will be sustained so it's not safe to exercise and sell later or lack of cash to actually exercise so people take the discount.

I have sold 25% but never at more than flat or 0.5c below the effective level (I am not going to sit all day moving my price up and down so the arbers can have the 0.5c).

In the end its been a better return - Heads @ 5c or Oppies @ 2c at the time so I would have made 280% (@ 19c)in heads and have made 500% (@ 12c) in oppies that should be 600% (@ 14c).

Now the discount is so great I have called Computershare and asked them to email me the exercise form.

Range is going to be awash with cash in the next 6 months - $20m to come from option exercises plus the Equity facility.

Betcha see a 3B for at least 5 or 10m shares in the next 2 weeks ;)


For what it's worth I am really really stunned at how keen they are on this in the UK. The price action and volume cannot be argued with - a breather or pullback would be healthy but the demand seems very strong.