1 cent option??, page-21

You are right. The company was lacking funds needed to progress the project. They tried selling assets. With the recent capital raise things have really sped up.

What I meant is these could be the last couple of months of trade below one cent. So it would make sense for people to be accumulating. Buy demand at 0.5c is always high so volume depends on if someone decides to dump their shares. 11m yesterday and 15m today and buyers volume @0.5 is still sitting at 5M as it was at the end of trade yesterday.

The options are very likely to have an effect on the SP. Once the options are exercised at 1c the SP will probably move and sit around there, till we hear more about the BFS and project progress.I think what happens is holders idea of how much their shares are worth changes and buyers have more confident buying at higher prices if big money is willing to buy at those levels. I say this because of how the SP moved after the first tranche placement. Prior to that SP was sitting between 0.1-0.3 for ages. The company even tried to move up the SP and had Proactive Investor do a video valuing the SP at 2.4 cents (and that was with a 50% discount).