Ann: Diggers and Dealers Investor Presentation-GPH.AX, page-26

Fair enough call - though even on that basis I would put GPH comparative fair value around 12c give or take fully dilluted considering the potential cash balance from option conversion etc.

And SO4 is going up every week quite strongly

There is a real case here for GPH to move to the upside - but of course the question is what the powers that be want to do with the options - I don't buy the theories a few weeks back regarding people flipping options into heads for a quick stag - there is just not that type of SP movement and a very small amount of options being converted

Either Hartleys etc. have been holding off to underwrite the options or accumulating to run it - there is still six weeks it would not take much for someone to push this up to circa 16-20c for a massive profit on those options - I am sure that has been considered

And the idea of Hartleys underwriting options is just hypothesis - depends on the company and Creasy

See what happens I guess