RE: RE: RE: Canadian Website on AME NR's ... The deadline is April 4, see the bottom of page 21 in KGHM's results for Q4 2011: https://www.kghm.pl/_files/Report/QSr_4_2011ang.pdf
KGHM's supervisory board apparently meets in the middle of this month, so that's likely when a decision will be made. By then the acquisition of QuadraFNX will also have closed, and they now also know the effects of the new Polish mining tax (which was voted into effect friday).
If KGHM is serious about their strategy of increasing copper production, they'll continue with Ajax. On the other hand, the Polish government still has final say over what happens at KGHM, and they seem to want to extract as much cash as possible (whether through dividends or the new mining tax). Hence they may decide to dump Ajax to lower cap-ex requirements, even if KGHM's management would prefer to keep it.
Still, the cost of exercising the option is little more than pocket change for KGHM, so I'd expect them to go ahead and then perhaps put the project on hold later on if they need to preserve cash.