Ann: Lapse of Unlisted Options, page-3

I suspect you are talking about the 6% increase in SP yesterday and not the topic of this thread which is the 2m lapsed options.

The SP movements are on small volumes, especially value wise, so not much can be taken from yesterday's rise. There seems to be a persistent sell off on any rise and I'm a little bit bewildered about this dynamic. Is it an iceberg seller or just stale holders getting off the bus? I can't dismiss capping action either because ERM has some big news catalysts due to be announced this month.

IMHO this stock is way under the radar on HC. The risk reward scenario is huge based on the information already released to the public. Anybody with a bit of knowledge about geology should be looking at the potential with ERM this year. Where are the HC posters that know some geology? Are there any left because it would be interesting to discuss the pros and cons regarding Kadungle at the least?

Anyway, what did surprise me is Rob Bills not taking up his whole 5m options. The oppies are in the money to near on 100% and that is instant wealth creation by converting to FPOs. He left 2m oppies to lapse.......... very strange decision and I don't know whether that is a good, bad, or indifferent indicator for us shareholders.

We will all see soon.

Cheers