Generally there's only one reason why anyone would exercise...

Generally there's only one reason why anyone would exercise unlisted options prior to their expiry date, and that is to sell them.

250,000 options appear to have been exercised Monday afternoon and total sales yesterday and today have been 309,000, so could very well be the seller all done.

Its not a lot of stock but can make an impact on an illiquid company such as this.

But the question remains, why would anyone (possibly an insider as they are unlisted options) want to sell prior to drilling the eastern mafic. No conspiracy inferred here as I don't subscribe to that.