Sorry I did not get your 2 Chapter novella until just now....

Sorry I did not get your 2 Chapter novella until just now. Firstly lets get a few facts out of the way firstly; “You clearly adopted the position of defending the company's decision in not offering options holders a lifeline” How can I have done that when the Company has made no such decision? “by questioning why they should even bother considering doing such a thing.” Yes I have asked that question to which you have given no justification for them to do so. Secondly; ASX listing rules are quite clear on the ratio of issued options to shares. So until the current options expire or are converted the Company cannot issue any more options, so nothing can happen until after the determination date.

We know that any issue such as this has to be approved at an EGM/AGM, so IMHO if the Company were to consider this, unless they do a pro-rata rights issue beforehand nothing could happen until the next AGM, at the end of the year.

“Options that lapse will result in the company overlooking cash to bank. Cash, a company like this would greatly welcome.” Thank you for stating the obvious, given we have been taking about cash.

“It's clear as night follows day what is meant by "extending ". Yes however, come midnight you have a new day or you suggesting that we are living “Groundhog Day”. In the current calendar we are using the next day is a new day not an extension of the previous day. If this is meant to be an analogy you probably could have found something better.

“As for your remarks pertaining to "mates" keeping the company going, I find that utterly appalling.
If you can show me where any of these "mates" have kept the discounted shares they were given during their CR contributions, then we can all acknowledge your claim has merit. Otherwise, it's beyond naive to think any of them haven't dumped.” These mates have provided working capital to the Company which has enabled to keep going, show me how these funds have not done that? Dumping shares only concerns someone who is only interested in the share price. I don’t have a problem if they do given as I said that have provided working capital and also adds to the liquidity of the shares. Please show how liquidity is a problem?

“Finally, how does a company continue with its operations without CR's? Not sure”. You may need to work on this (see below under escrow).

“However, what I am sure of is, there are limits to how many CR's a company should undertake before acknowledging that they are leading the masses up the garden path. If the company's convinced in what they're proposing to their SH's during a CR, how many chances should they be given when they keep coming up empty?” How long is a piece of string? I guess the simple answer is as long as people support the CR’s.

“If the company is convinced in what they're proposing to their "SI's", and the SI's are all about progression of the company's endeavours, shouldn't they accept their placement to be escrowed for at least 12 months, preventing any offloading, resulting in a disparaging SP? Of course they should!” Given as I said you seem to be only concerned about the share price, I would suggest that you put forward a more radical proposal of escrowing their shares for ever, because as you say these “SI’s” are the only ones interested in the progression of the Company they should see it out to the end. Although one small problem would be that no “SI’s” would probably invest under either escrowed suggestion. This is why you need to work on your new CR method to overcome this.

If I may be so kind I would like to propose a new condition for investment in options, in Company’s such as this. If in the event that come the determination date, the management has not either raised the SP that the options are in the money or can be sold at a profit or have proved their tenements to be the untapped resource that you think is there, option holders should be given their money back of just given shares. This will enable the option holders to sleep, by taking away any of that pesky risk, and also keep the management on their toes.

Sadly your “Hope that helped spelling it out for you..” really did not, but I hope that I have typed this very, very slowly helps you.