Not many close followers of HFR would have spent time with this...

Not many close followers of HFR would have spent time with this Appendix 3B issued 26 June.

It shows 50,000 options being exercised @ 75c ahead of 30 June expiry. No big deal - the holder would have done better to buy on market, but hey.

It also shows 3,100,000 @ 75c expiring 30/6/18, 750,000 $1.00 expiring 30/6/18, and 4,000,000 @ 1.25c expiring 30/6/18. These 7,850,000 options have all now expired.

Then there is another 9,500,000 @75 expiring 11/9/18, which will probably also be out of the money.

So, holders aren't diluted, and HFR misses out on $8m in fresh equity, with another $7.1m possible 11/9/18.

If HFR shareholders are gritting their teeth over this price weakness and endless delay, imagine how those option-holders feel!

________

Today I bought another parcel at 68c. I think this is the bottom. Time will tell if I am genuinely prescient or just another mug punter.

Ash