Ann: Strong Maiden RC Results Mineralisation over 400m at Gimlet, page-37

For me, I'm not holding options to conversion, so its the upside leverage they give. My theory is, we could well be mining gimlet in 2020 before options conversion, considering there are oodles of plants in the vicinity or we prove up 100-200koz resource and sell it to the IRC merged company as an extension of teal, either way we aim to monitize gimlet in some way in 2020.

With options at 0.004 and heads a 1.7 this is how I look at it:

In 2020 for example heads are @ 8c (Market cap around 20-30mill)
Options woudl be around 4c giving a bit of a premium (2c)

thats a 4.7 bagger for heads but a 10 bagger for options.

Thats way I am buying options, greater leaverage to the upside, speculative of course, but thats why we are here