RE: WarrantsI have no idea if the warrants were holding this back or not but if it was then it is now gone. In theory if it was then we should move higher to the next warrant pressure area which my guess would be the upper 70 cents area. I don't expect this to happen but we'll see as time passes by.
I do believe the people who got caught in the ABCP is a major contributor to holding the price down. I do believe it is large funds like Northern who go hit big time and they need the money in a bad way even if it is a very small profit or no profit at all. They need the cash in a bad way.
I do believe the deal is going through on the ABCP so that means anybody under a million will get 100% of their money back. The larger holders will get stuck holding the long term stuff and if they don't want to wait long term then they will take a hair cut. Once all of this plays out then hopefully things will return to normal but when this will happen is anybodies guess. If it does happen then I do believe BTC should move up and I mean way up but then again this is JMHO.
The other part of this problem is that if the market doesn't recover quickly from the ABCP disaster then there is going to be lots of juniors going bye bye. In markets like this, it is extremely hard to raise exploration capital.
BTC won't have this problem since they have lots of cash in the bank. They also have JV milestones coming up. If the JV partners don't commit then BTC will get the property back. Saganaga is a good example. They got initial cash plus work the JV did on the property and got the property back so that Mick can go out and find more goods to do another deal or else they can take it further and get even a better deal. All I can say is that this company has a great business model and the top guys are extremely smart guys.
MM