I have just read the Option Prospectus.It is an interesting way...

I have just read the Option Prospectus.

It is an interesting way to raise funds.

60 million options at .005c each, raises $300K. Costs only $25,100 for prospectus, proceeds from the Offer (after expenses) will be used to fund the Company ongoing working capital requirements for its existing projects, including the next stage of exploration activities for the Badja Project in Western Australia, and for the
continued evaluation of new opportunities and projects in Australia and
overseas

Must run out of money quickly you would think! But no, the shares are already 3.9c and rising and the options are exerciserable at 2c

Everyone is happy the placement holders are in the money and the company picks up $1.2 million on the options being exercised plus the orginal $300K