"..longer time to expiry means that they are converted over a long period ---not making available a large amount of shares in one go...."
lol. The expiry is the date before which the option holder has the right to convert to heads via payment of the exercise price ie 35c. Company options, if in the money (long shot), are usually converted immediately before expiry, otherwise more intelligent(another long shot) to sell the options and bank some time premium, if the holder requires the cash early.
"..I also am told that company are confident that there will be a JV announcement in the next 2 weeks.."
I've been told the exact opposite, altough miracles may happen.
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