Ann: Gulf Manganese IMnI June 2018 Annual Conference Presentation, page-43

The chart on the options mirrors the stock - a downtrending line making new lows.

The bid ask on GMCO is 0.005 - 0.006
the bid ask on GMC is 0.010 - 0.011

GMC is equivalent to GMCO plus $0.005 (which is the strike price that option holders would need to pay to convert into shares).

The worry about the options is they expire in April 2019 - 9 months away.

So by April they will need to be converted into shares (which means option holders need to pay the strike price to exercise into GMC shares).

The alternative is to sell, but with 1.6bn other like minded option holders, I think there will be more selling pressure on options than the shares