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Hey arion, the problem with these types of negotiations is that the deal is on until it's signed or it's called off. IMO, the longer it takes, the less chance we have of a successful outcome. NLC and NMDC will do what's best for them and their govt, and we're completely in the dark as to whether their real best interests are actually aligned with ECT's.

And it is highly unlikely that shareholders will know what the outcome is until we're told via ASX announcement. I would be very surprised if there was any media coverage, good or bad, until we know whether the deal is signed or it's fallen over.

I also don't think it will be done this financial year. I believe that's why the word "aggressive" was used to describe timelines.

ESIOCs expire next July with a 4.5c conversion price. More than 5 times the current share price. How good does the deal need to be to encourage conversion of those options? IMO, this is one of the highest risk, highest reward opportunities on the ASX. It's all or nothing.