RE:Conservative to brash - a sudden turnGood analysis. I spoke to Leo today to ask him the same question. My thinking was that the original warrant expiration date, December 12, 2014 would not provide much time for drilling because of the summer heat, so Quinton wants to make full use of the additonal funds now (for the reasons aronr suggests). Leo just said that it was better to have the money in hand, or words to that effect.
Aronr's careful analysis shows that there has been a very significant change in Novo's cash management. From "The company won't need to raise cash until 2015...and only plans to spend $4.5-5 million this year.." May 2014, to the July 17 notice of acceleration of warrant expiration date to provide funds "to use to aggresively pursue its corporate goals"
What induced the change in thinking? BLEG results are the only thing that "sticks out like a sore thumb".