RE: RE: Ventana and the mining marketBTW what do you mean by 2.70 warrants are in the money now?
DaddyM - I got the $2.70 warrants from the press release:
Toronto, Canada, March 10, 2009 - Colossus Minerals Inc. (TSX: CSI) (the “Company” or “Colossus”) announced today that it has closed the previously announced bought deal offering (the "Offering"). The Company issued an aggregate of 11,500,000 units of the Company (the "Units") at a price of Cdn $2.15 per Unit, for total gross proceeds of $24,725,000. The aggregate number of Units includes the issuance of 1,500,000 Units pursuant to the over-allotment option. Each Unit is comprised of one common share (each, a “Common Share”) and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a “Warrant”) of the Company. Each Warrant will entitle the holder to acquire one Common Share at a price of CDN$2.70 until March 10, 2011.
At a share price of $3.60, which is where we were topping out when the news came out last week, that's $.90 in the money for those warrants by my calculations.
As for your trading strategy you stated DaddyM, I agree - you never go broke taking a profit. I definitely advocate taking at least your original principal off the table when a stock takes off like CSI and you were smart enough to get in at a much lower price. Then you ride the free shares. Totally agree with that plan. If you think you can trade in and out of this stock, go to town. I for one don't have the time to watch all day, and as has been seen, this stock can turn on a dime. So I'd rather be in than out when that happens.
As for Hammerbit - I am late for the party here but it definitely appears you have a chip on your shoulder for some reason. Maybe you are a geo that didn't get hired or someone who wanted the property and got beaten to the punch, who knows, but your mission is clear - you want to discredit this company. Good luck to you sir, and I hope you fail miserably.