I have never seen options given with terms of less than 3 years....

I have never seen options given with terms of less than 3 years. Almost all of these types of options are issued below the current SP. This is why this news is bullish.

The normal practice in my experience is the overall cost is something around 5% of the money raised, but we will need to wait for the details.

I am not sure why you are holding @naggingnan? If you have no confidence that EGA will be able to build a mine then sell out now. If you are right and the DFS is delayed by months then the SP will certainly be lower than it is today.

I don't think the SP is going to go anywhere much until we get (or don't get) the DFS. You can either use the SP weakness to buy more like me, sell out, or focus on the long term and not worry about what the SP does in the next little while.