Thanks for posting the information from Xcel.
Options were allocated on 11/12/2017
Re-organisation of capital occurred on 30/5/2017.
So there were about five months to trade up to 4.5m options on a pre-split basis as 50 baggers. Therefore the total volume would not have to be as high as the 32m as you point out.
Lets agree to disagree
Ann: DSO Vanadium Exploration Accelerates with New Targets, page-39
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