You didn't look too closely. They announced one only last week,...

You didn't look too closely. They announced one only last week, under the heading Appendix 3B - Option Exercise". And that was for only 10,000 units - $220 worth. Even that small an amount was obviously worth their while.

I will post the results of my exercise this morning when I receive the shares. I exercised 130,000, roughly a quarter of what I have accumulated in the last week or two, at an average price of around 6.5c. I could double my outlay on the market today, but haven't sold for two reasons - 1) I believe in the Droneshield story and want to hold an investment longer term, particularly as I see it as a defensive play in the event of more troubled times or even crisis in the world and 2) by exercising the options and then selling the resulting shares I would probably make significantly more profit.