Post by
Elephants on Feb 01, 2021 1:12pm
Warrants
It appears the TSX outstanding shares is not updated. I exercised some warrants and the outstanding didn't change. Does anyone know how often they update that? I'm trying to get a gage on how many warrants are still outstanding.
At least 3mm have been exercised already according to the TSX but that has not changed for 2 weeks. A lot more have posted on here and other boards that they converted and with the acceleration approaching I only assume more did as well.
I called the $3-$5 at spudding back in September. Based on what I'm seeing the below $4 seems oversold. There are probably a million or so warrants that have not been sold yet that will be forth coming this month. After the forced conversion that provides more cash for derisking and strengthen negotiations increasing share price. Haywood's $7 price target seems about right after the conversion notice and the remaining warrant sell off (I'm guessing a million) so in March/April.
Based on this I'm thinking $4 by Wednesday and bouncing between $4.50-$5.50 this month with a bump into the $6's after the warrants have been eaten up and well 1 is complete. Thoughts? Thinking the bounds for short-term trading.
Comment by
werROBINHOOD on Feb 01, 2021 1:36pm
Seems the trend has turned and could be the beginning of a push back to 5+ before settling back into a trading range. As they say the trend is your friend until it's not.