Upon VEC’s exercise of the option, a joint venture will be formed to further develop the properties
http://www.katexploration.com/PressReleases/Vale%20-KAT%20PR.pdf This means the option hasn't occured yet at the time of the PR...options usually occur after the end of the original contract..I believe the original 20,000 was for the first year with 25,000 per year for three additional "option" years. The one year was up in June 2011 and the 3 year option begins at that time.
2a. All of KAT Exploration work claims were updated on the government site in May 2011 with the majority occurring on 24 and 25 May 2011. These updates did not include the mandatory annual work reports.
2b. ALL of Vale Exploration Candada, Inc work claims were updated on 25 May 2011...again these did not include the mandatory annual work reports.
2c. For any JV/contract, full disclosure must occur..this is why I think the government sites were updated for both companies at the same time...to ensure both entities disclosed their full portfolio.
3.
In order to avoid giving analysts, journalists, and other investors an unfair advantage that would amount to insider information, company executives are forbidden to speak to the public about the business for the four weeks prior to the close of the business quarter.
4. For what ever reason, the PR wasn't published prior to Vale's quiet period beginning (Nelia's post confirms this...IMO) and now has to wait until the quiet period ends.
5. Note the large volume spikes of KATX shares on 24 May (6,364,506) and 26 May (7,471,734). I am assuming this was insiders who knew about the deal!
The reasons above are why I and another poster have a combined 25M shares.
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