They might have thought it would rise on listing, so they are cutting their losses.
Maybe, as stated by others, they are happy to keep their options.
Perhaps disappointed that they only have the funds for two drills & not six.
Maybe swinging into the options, at a quarter of the price but the same upside. esp as the two drills should occur before expiry.
maybe none of the above!
They might have thought it would rise on listing, so they are...
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