RE:RE:RE:RE:RE:RE:RE:RE:RE:Any fund managers paying attention?EdgarL wrote: You can go on Sedar and read the old documents. Lloyd Miller (no relation to Howard Miller) is the name to look for. Anyway, these amazing prices just can't last forever. I believe Avnel is the same - it can shoot up much higher at any point - we just have those shares to go through and then there aren't likely going to be many available once it gets going. We've got quite a few catalysts coming soon.
Let's hope so.... AVK cannot go up that easily as there are about 100MM warrants on top of the 304MM shares O/S.... meaning huge float. And the majority of these warrants are between $0.15 - $0.25 (especially 67MM warratns at $0.20). If have to chew thru all these warrants as shares sold at $0.30s.... it would be quite a while. Maybe that is why the sp has stalled?
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According to Note 1 for the 67MM warrants at $0.20, why the company has not accelerated the exercise period for these warrants as there have been more than 20 consecutive days (actually more than 30 days) where AVK traded $0.30 or more??
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The following is taken from the company's website (https://avnelgold.com/investor/capital-structure/)
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. As at 30 March 2016, Avnel Gold Mining Limited had the following capital structure:
| Ordinary Shares Outstanding | 304,330,124 |
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In addition, Avnel Gold has the following share purchase warrants, stock options and similar instruments outstanding:
| | Quantity | Exercise Price |
| Share Purchase Warrants (Note 1) | 67,586,400 | C$0.20 |
| Share Purchase Option Plan (Note 2) | 5,135,000 | C$0.41 |
| Other Stock Option Plan (Note 3) | 2,500,000 | US$0.275 |
| Broker Compensation Option (Note 4) | 1,222,776 | C$0.15 |
| Broker Compensation Units (Note 5) | 810,000 | C$0.15 |
| Broker Compensation Warrants (Note 6) | 810,000 | C$0.20 |
| Share Purchase Warrants (Note 7) | 2,000,000 | C$0.25 |
| Share Purchase Warrants (Note 8) | 21,450,000 | C$0.40 |
| Broker Compensation Warrants (Note 9) | 2,378,000 | C$0.27 |
If all of the warrants, options, and units were to be exercised, Avnel Gold would have 408,222,300 common shares outstanding.
Notes to Table:
1 – Provided that in the event that the Common Shares trade on the TSX, or other recognized stock exchange or market, as applicable, at a volume weighted average price of C$0.30 or more for a period of at least 20 consecutive trading days, the Company shall be entitled to accelerate the exercise period to a period ending at least thirty days from the date that notice of such acceleration is provided. These warrants expire on January 17, 2017.
2 – The weighted average exercise price is C$0.408 per share purchase option.
3 – Exercise price of US$0.275 per share purchase option that expire February 23, 2023.
4 – Each Broker Compensation Option is comprised of a common share with an exercise price of C$0.15 and expire July 17, 2017.
5 – Each Broker Compensation Unit is comprised of a common share and a share purchase warrant with an exercise price of C$0.20 that is described in Note 6 below. These units expire July 17, 2016.
6 – Each Broker Compensation Warrant has an exercise price of C$0.20 and expire January 17, 2017.
7 – Each share purchase warrant has a term of two years expiring 18 September 2016.
8 – Each share purchase warrant has a term of two years expiring 7 May 2017.
8 – Each broker compensation warrant has a term of two years expiring 7 May 2017.