I see this as a resting share price of 3-4p while we wait for news, it is a no brainer, it costs us nothing and we only have to cover low overheads. It really is a unicorn of an opportunity down here.
The put does not give up rights it gives us more exposure to their entire portfolio. If we needed some cash which we don't then we would not have to cash in the entire amount.
For what it is worth the put and cash (excluding royalties) is not much more than current cap