Don't think its as black and white as it seems. PRB controls the hand here, IMO. If we have great assays and a very decent PEA, Dave might wait to near warrant expiration for release so a warrant decision will have to be made quickly and brokers will have to "sh** or get off the pot". Other option is to extend the warrants.

That being said, I think my preference is for warrants to expire out of the money and the choosing of better "bed partners", as you say, down the road.