The reason not to execute the option yet is to conserve money/dilution until the complete derisking has occurred with the EA and the lab work passing finance worthy scrutiny. In finacial terms I believe management have done exactly the right thing not to expend cash or share unnecessarily. There would be no immediate gain to the project to exorcise the option now. This has been prudent in preventing a premature CR, they have acted in my interest IMO.
The Norton transfer (triggers) occurs when finance is achieved, CRB own 75% of RB. I think everything is in good order IMO.
Ann: Mount Morgan Project Update and Option Extension, page-25
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