Yes the options were not well managed by Pattersons. In theory an option deal like this can be quite a good way of raising cash when it is needed, but in practice they often turns out to be a disaster for the SP. It would have been better for EGA to raise out of the SI/instos when needed rather than have a whole lot options in the hands on reluctant or cash poor small holders.
They will eventually wash through and in the mean time they create a great buying opportunity for anyone with a little patience. What matters is the project and team, not the short term SP movement.
EGA Price at posting:
26.5¢ Sentiment: Buy Disclosure: Held
