RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Strategic Investment AnnouncedYup, forcing the wt exercise would put on some "gentle" pressure on ICG wt holders (especially when they are in the money) to cough up the cash for fill up the $6M piggy bank for the ER stake. Even though they have a good chunk of cash (~$33M, as of 11 Feb 2016), an additional $6M would become handy at closing of the deal.
In addition, ELD may want to cough up a couple of $M to maintain their 15% strategic investment stake in ICG.
Since all indications have pointed to the direction that another elephant (a much bigger one) has entered the room, it should not be a surprise to see another strategic investment, say another 15% of ICG for some $35M. This elephant does not need to ask for a seat on the Board (or ELD will want the same) since they have enough moles around in both ICG and ER.
Total cash: 33+6+2+35-6= $70M (may be this would be good enough to start a mine at Triangle and do some poking at the Deep.
Just my imagination.
GH