Ann: Update on Cesium Assets, page-117

This would indicate to me, Email 12 feb, "they have not been converted yet"

The "yet" implies a belief that they still can be.

Hence it is some time later, that they realise that they actually expired in Jan,
And retrospectively view that they were not in the money by any significant margin.

Nevertheless, the belief that they were open until march, is some serious failure on either or both of PWM issuance of warrants terms, or WR1 misunderstanding them. Where the fine print where such can have two different dates ?

Regardless, it is water under the bridge.
If we really wanted to, we should have bought PWM out when they first identified a low capex cesium play.
This was identified on rock stocks channel, and it was back in September or so, and i emailed CE to suggest so at the time. We were and still with our tunnel vision on Adina-Renard. Perhaps they had to prioritize their chess movements more with the alignment of this strategic, than could afford to be masters of two horses.