extension of warrantsShareholders received a correspondence from Capstone with two main items: one asking shareholders to approve the extension of 766,666 warrants for Prudent Bear Fund (In conclusion, while the (Prudent Bear Fund)fund ended the quarter with less short exposure, the fund remains far more short than long and remains positioned for the resumption of the secular bear market that we expect), the second explaining the process for the distribution of the new units of Silverstone (you most own the shares (not the warrants) to get the Silverstone Shares. The Prudent Bear fund is a substantial shareholders of Capstone (over 10%) and this unanticipated approval process by shareholders might explain the delay in getting the new silverstone shares on the market.
Personally, I am a little bit reluctant (I might sign at the end of the day) to approve the extension of warrants for a company (a fund) whose main specialization is to short stocks.
No matter how I look at it, at the end of the day, the prospect for Capstone and its soon to be born Silverstone is great and I would not be surprised to see both stocks trading in the low teen by the end of the year if the POG,Copper and Silver continue to climb.
Best of luck to the longs