Hi @vatulele, you probably answered the real reason why the MTR...

Hi @vatulele,
you probably answered the real reason why the MTR converted warrants early when you rightly identified that: it swells MOD coffers.

MTR have provided unexpected funds.
Funds that can be employed immediately to aid the Bots JV and to increase the resource value.
To allow MOD to operate at the same brake-neck speed (or faster) as they have to press.

Also as @Adamcz said there's little benefit in leaving it in the bank.
Perhaps MTR see benefit in proving they are a supportive partner by swelling MOD coffers now.
It does give MOD a strengthened negotiating position with a potential suitor, having the luxury such a cash pillow brings.

MTR's sp increased by +35.37% today, such of it down to one word "substantial".
I hope it does the same for MOD when news breaks.

atb
JS