RE: what I think is what is going to happen
It seems to me that there is something going on that is delaying the release of holes 5 & 6 as I believe they have the results but have not released them for some reason we are unaware of. Do they have to wait for the recent private placement to close before releasing results?
Perhaps there are issues with the pricing of the private placement as it is now priced way below current market and it could even involve the extra 20% option agreement. I don't disagree with the suggestion that the extra 20% may require a vote by MTB shareholders....that to me would seem reasonable and I would not be surprised if that is indeed what happens.
If the private placement is repriced I would view that as positive as it would mean less dilution for DEC.
I own both DEC and MTB and for now am baseing my investment decisions on a 60/40% split. Those few posters that are constantly posting that 100% of the property should be returned to MTB are in my opinion fear mongering. The original 60/40 agreement was entered into last November, was approved by the regulators/exchange and DEC has substantially made and will make their first year spending committment. I cannot see anyone reversing the orignal option agreement which has been suggested on this forum however the other 20% I believe could be denied due to the timing of that agreement.
Based on 60/40 I believe MTB value is lagging DEC slightly based on market caps.
Bottom line is that I believe both DEC and MTB are going to rock.