RE:Will we wake up to good news tomorrow morning In a way, we should not be waiting for so long, as you say, since this "molecule" division was clearly set up to facilitate a partnership of the joint-venture type. In other words, NL not wanting to "join" the whole company to that coming venture, has set up this stand-alone entity for that specific purpose. A clear signal of what the deal will be about.
In another way, the hiring of that consultancy firm more than a month ago + publicity around the setting up of that molecule division + the upbeat talk at the recent conference + the articles in mainstream media (Forbes, Yahoo) = indications NL is wisely putting this potential joint venture to some kind of auction, making sure it will get the best deal. This could last for a little while. Maybe we will have this announcement, say, once the warrants expire. Maybe just when the US market really opens.
Sure we are watching, waiting, expecting.
But just imagine those warrants holders: To convert warrants at a price higher than market (I bought 20,000 this morning at 22 cents) or let the warrants expire and miss on a potential big jump of the share price?
Personally, I am not living through this gruelling dilemna, I just buy confidently at today's big discount - aware that NL insiders are very likely prohibited to buy stocks on the market right now, while this back-scene bargaining is going on.