got the impression from a PL communique to a friend that company...

got the impression from a PL communique to a friend that company was waiting to see what happened in the two weeks prior to expiry (prior to the 24th)- If a JV was announced and share price recovered there was going to be a shorter extension ... If not it was going to be an extension of about a year(there was going to be an extension anyway). When extend better extend to a good enough timeline;
(It sounded that the company was going to extend the options JV or no JV it was how long that they wanted to decide on)

seems that some large and influential option holders wanting to trade the options, once ther was a share price spike, was instrumental there in getting enough time on the extensions...

There would not have been an incentive to extend unless the owners of large option holdings were close to top Brass especially given dilution to Genorah


On the other hand can some one please clarify:

what is the current DMRs processing time for a mining right apllication after submission of EIR/EMP

the Initial Xstrata agreement stated "The Option is exercisable following the completion of the Bankable Feasibility Study, expected to be completed by the end of 2009, and is subject to the grant of the necessary regulatory approvals"

could this mean that Xstrata/ Anglo or whoever need an approved mining right before coughing up the cash