Not necessarily. Considering things from a non-binary...

Not necessarily. Considering things from a non-binary perspective, here's a more nuanced breakdown;

The supporters of the cause can buy options when the market opens tomorrow. These options are very affordable ("as cheap as chips") to buy back.

Benefit for Current Holders: Those who already hold the stock (the "heads") will benefit when the option holders convert their options into stock.

Capital Raise (CR): If the option holders do not convert their options, a significant capital raise with a substantial discount will need to be conducted before a drilling operation or another significant event, severely diluting the current shareholders' equity.

The scheme (extension of oppies) would provide the company with needed funds while benefiting both option holders and existing shareholders.

Several ASX companies have done this successfully.

Downside; a lot of paperwork for our dear friend DB.

Thanks.