PEN 5.26% 18.0¢ peninsula energy limited

Exercise PENOC

  1. 827 Posts.
    I understand that PENOC will expire Dec 31, 2015 and the exercise price is 3 cents.

    So, does it mean that PENOC need to rise to 3 cents before it can be converted to PEN? If so, it will mean that PEN would then be around 4.5/5 cents if PENOC is at 3 cents? Is that correct??

    If the above is true, would mean that 10 months for PEN to go from 2 cents to 5 cents in order to have a chance to exercise the PENOC???
 
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