Goldcorp Screwing Warrant HoldersThis proposal is a complete joke. Why would I surrender 27% leverage and pony up $6.60 for each 4 warrants a year early in order to get four hundredths of a warrant? That is right, for 10,000 A or C class warrants you are going to get 100 new warrants that are out of the money by 50% plus have to pony up 2500 times $6.60 to get your G shares and the warrants.If you vote no and the motion passes amongst warrant holders,you get 50 warrants plus your original warrants are converted into G shares.
Goldcorp IR rep Julia Hasawar claims the warrants might be worth about $6.00. I doubt this, but to the point, why would I give up 27% leverage in a company I think will get taken out by Newmont at $42 within 6 months for a lousy $600.
This is attempted theft. We need to fight hard. Let them know! I will be contacting TSE next week to see how to challenge this.