Ann: Placement to Accelerate Vanadium Resource Upgrade Work, page-5

Was fine with the placement despite 20% discount and with 6% commission, but the options could severely cap the upside.

Would very conservatively estimate options value at 0.4c each especially given long-dated with exercise in 2021, so giving away value of $340k through the options and $60k through commissions. If this will be bestowed for raising the trifling amount of $1m then that seems like a very poor deal for shareholders.

I liked the look of this company before but sold out this morning due to the mention of these options which could cause a massive overhang and dilution.