Management Converted Options to Shares, 20+ cents Mike Thompson, it would be beneficial if you could post the Sedi information illustrating the SPMT Directors have exercised their options to hold shares, going forward for the big holes forthcoming, i.e. 230 feet of "continuous" drilled Lithium from surface.
It's not surprising management already exercised to hold shares at lower prices as Cypress went well above $2.00 then likely that management is gunning to move SPMT towards the range of 50 cents to $1.00 as Year Round drilling continues and Lithium resource calculation gets underway.
In the not-too-distant future, the Lithium resource takeovers will be frequent as this is very early stages of the new oil.
It now looks like the plan is not to finance at anything under 20 cents.
With significant ground adjoining or bordering a $$Billion+ Palladium equivalent deposit(s) and $$Billion+ Lithium deposit & now drilling & hitting Lithium grade on their own Project (plus other potential byproducts), even 20 cents is looking very, very inexpensive.
It's no surprise that Management has already written lots of cheques to exercise options to hold shares.