Depends on your view, motive and timeframe. Maybe not as a...

Depends on your view, motive and timeframe. Maybe not as a trade, particularly with its liquidity but I just chose ops at 22.5 rather than heads at 44, 'giving up' 20c but a cheap way to get double exposure if you think it's undervalued.

Exercise date very well structured to be post funding confirmation and possibly coincide with commencement of construction. I won't be selling but value could easily be dollars higher so 2x beats 20c. IMO.