Ann: Quarterly Activity and Cash Flow Report Q4-18, page-132

it’s a fair question. In buying new options you would need to ask yourself if you trust the BOD to not just undercut you again later. But they are by nature high risk. Existing options will still move around in relativity to the head price and are still in the money at 2.0c  Perhaps a fund raise was a requirement of a JV partner. Or the money raised allows eon to do things makes the 2c price more likely notwithstanding the dilution.