my understanding is (and please correct me if I'm wrong!!) the options will stop trading on the 29th July (Wed next week) and are required to be exercised on or before 5pm August 5th which is a week later.
If the SP stays at its existing level ie round 19cents then @ 1-2cents per option the SP would need to be >22cents to be financially worth while UNLESS a holder wants to pickup additional shares without pushing up the SP and is willing to pay a premium for them!!!
I am unsure that the BFS will do much to push the SP along, maybe a cent or two but not much more (but sincerely hope I am wrong
) what we need is the TK take-off to be confirmed as finalised however with TK wanting to review the BFS before signing I believe the TK agreement won't be confirmed till end August with confirmed finance at the end of 2015 for construction to start early 2016.
HKP