Ann: Battery Minerals Rising Stars Presentation 29 May 2018, page-6

Just cause the options aren't listed doesn't mean a value isn't able to be determined. While I understand the theoretical value of ~4c that had been thrown around, I'll be floored if they open trading at that, but pretty confident they'll open higher than 0.4c.

I'm not sure what the option value would be as the price drops but wouldn't be surprised if the SPP was still in the money with the share price at 3.5c

Wombat spot on on this one.