And if I recall the KL options with DEG are for a full year less...

And if I recall the KL options with DEG are for a full year less (2019 expiration) vs KL's Novo Options (2020 expiration) for a staggering 84 Mil.

In my opinion KL's options in Novo are more of a blocking and keep the control in the family longterm investment. Whereas with DEG options provide KL a foot in the door on the next Pilbara Plant (new), free ride on conglomerates and a growing conventional resource. One statement KL made , last November, that I believe is very important to remember. They clearly stated "We are a mining company and we don't think our shareholders want us doing what someone else is doing" ( ie Novo).

What if the KL original motivation for a stake in DEG was for Conventional Mining, to justify a sizable multi-purpose plant and fast tracking the trial mining for Novo/KL(JV).

Of course, I'm only speculating, and it's a fair comment to say, they "simply were staking more conglomerate lands" on the cheap. But doing DEG for this reason after already holding a stake in Novo's 12000 sq/km doesn't seem like a logical - next step.

For only 6.5 M I don't think they really care when they exercise but if it's early (say at DEG's request) and they comply, what would that tell us?