RE:RE:RE:RE:Warrant redemption two things:
1. I believe warrants have already been exercised by a few to cash in on the 10 to 15 cent spread between market and exercise price .......made some money and still have there shares ... a lot more will be exercised on announcement of JV deal finalized .. all without Erin forcing the exercise of warrants.........remember Erin has a lot of recent cash plus .....need for cash after JV is not as great.......
2 The JV deal itself as sasky points out is a major contract specifically drawn for this deal ....it entails decision making on the project from time to time. how and when the 10.5 euros are invested..rights and obligations of both sides and everyone concerned about preserving their rights to the 2 to 3 billion plus in the ground. the contract would address the fact that the asset is located in serbia and which laws would apply given the serbian interests in the mine.........also it would deal with what each party would consider a default under the ters of the agreement ...remedies and methods or resolving differences as the deal unfolds ..........as best as the lawyers involved .can forsee
a week would be an unreasonable length of time to expect that to be prepared ....I would expect at least several weeks ........ and if the lawyers involved have more than one file on their desks it could easily take a month or two......... the DD is done and both sides have conveyed to their shareholders they are working towards the JV allow everyone the time to get it done.... and done right