RE:RE:exercise of all outstanding warrantsAround 40Mwts exercised raking in almost $12M cash which mor ethan enough to pay for ER 10% strategic investment (they might even go for the max of 15%). Some new shareholders may decide to sell the new shares for various reasons (need the cash for new shoes and iPads?) hence some volatility would be expected for a little while. Good opportunity to buy in if the price seems right for you (roll your own dice, lol).
There was a big block 409k @ $0.65 (more than half the volume at 10:07am). Some "highrollers" whowas determine to gamble a little over $1/4M. If the take-out price is at a 40% premium over the current price, the gain would be a cool 100k (40% gain).
If the take-out price is over 1.00, say ($526 +100M)/450s =$1.40/s. Assuming: $526 the price G paid for PRB (4.3Moz), $100M is the price for the mill and on-site infrastructures; ~450M OS. then the new investor would would fetch over $200k (115%).
This is just my speculation folks. Feel free to speculate away. Note: I have not speculated the TO timing. Could be within a year, or even by year's end? Also, note that ICG is not desperate for cash to keep the lights on. In other words, with tons of cash in its Treasury it will be able to negotiate from a position of strength.
GH