Soak up time, page-16

Exactly.

I suspect they are looking at something of a tech nature as exploration is not all that favourable atm.

If whatever it is suits the Company, it may have a VERY positive affect on the SP and as you say the price would need to be significantly higher for the exercise of the oppies. Perhaps 15-20c+? Not impossible with the low number of shares on issue post exercise and maybe $8m+ in the bank following exercise. Not many companies with that sort of sound base to work from eh?!

Patience!