I don't subscribe to the view that the company necessarily wants...

I don't subscribe to the view that the company necessarily wants to see the options exercised. The directors and several of the consultants have large share parcels but relatively few options.

Exercising all the options will significantly dilute the holding of anyone with larger numbers of shares relative to options. The directors and others with few options are better off if the options lapse and a successful drilling campaign finds the lithium mother lode after the lapse date. The directors can then run an oversubscribed raising at a much higher share price with much less dilution for their existing share holding. Just my view only and this scenario only works of the directors are confident any drilling after the options are killed off will be successful.