People still taking profit from the IPO , around the 60c...

People still taking profit from the IPO , around the 60c level.

With so few shares on issue , this wont go on forever and the next leg up in the price could be significant especially if it is based on BOA specific news rather than news based on the BOA nearology to Sirius .

I would love to know if the company still intends to issue 20c strike options it mentioned in section 3.9 of the prospectus.

I have not taken any profit because IMO the opps will be a 40c gift and I didn't want to miss this further upside .

I also think if they drill and get positive results similar to SIR , the stock will be a takeover target


The prospectus stated they intended issuing options within 3 months of listing (Oct 9 ) , but it didn't say they would definitely do this (just intended to ) within 3 months of the listing .

As there has been no detail or discussion of this since listing I was beginning to wonder whether the ongoing selling is a sign they have changed their mind on issuing options and the board thinks it is better not to dilute the company with 20c options

As the price is so much higher than the 20c strike price , and IPO holders are already happy they may elect to shelve this ????