correct me if i'm wrong - but the heads are at .003/.004 - and...

correct me if i'm wrong - but the heads are at .003/.004 - and there's also available stock at .005 on market on asx alone. Unsure of what chi-x is reading as I don't have access.

However, from the last quarterly, they said this:

"Funding The Company has 1,737,866,179 quoted and 120,000,000 unquoted options with an exercise price of $0.004 on issue (Options). The Options have traded in the money at various points in time over the past quarter. The Company expects to receive funds from the exercise of the Options to supplement its cash to hand to meet ongoing exploration costs over the coming quarter. In the event that such funds are not forthcoming, the Company will consider undertaking an appropriate capital raising if and when appropriate."

if the strike price is .004 and whatever price you received your oppies for - doesn't it make sense to just buy heads (unless you wanted heaps of shares, that would limit the unquoteds to 120M)- which would be cheaper because you can collect them at .004 flat?

The viability of the funding strategy above, I find to be baffling.

Unless I'm missing something - happy to be corrected.
DYOR
IMO