RE: RE: RE: RE: ??? FKLOSTERI did make an error when thinking there was more than 1 choice for IMDH to make.
Having said that I still say that IMDH's choice on whether or not they will exercise the 12.5 million warrants will tell us alot.
I.E. IF they exercise the warrants, then they have a great faith in the monetary viability of the project.
IF they do not take advantage of the warrants then they have done their homework (most likely better than anyone here on this board due to better information and technical knowledge) and have decided that the project is not worth risking money on. They will gladly accept payment for utilization of their equipment as has always been the case. They will just not risk any of their own money.
Sedar - Jan 21 2010 - has details of agreement
1) approximately 1.8 million for program - half up front, balance in 30 days of completion
2) 12.5 million warrants at 0.20 until June 15 (later amended to Aug 15 - May 10,2010 news release)
3) CHARTER CALL - AFA can exercise within 365 days. daily charge for vessel usage(whatever is agreed upon for the fee). This vessel does not necessarily have to be the one used in recent sampling program. also AFA must give 2 million shares within 15 days of receiving the option vessel.
Hope that clears up my view point for all!