msg to M139I read your post and totally agree with you on 2 points but I need to correct you on a third point in your post.
First I totally agree that this company has a very good Moly project which did take the stock to $1.20 a little over 2 years ago and that project should be worth 20 to 30 cents a share in today's market environment but it has been forgotten by the market because no one has been promoting it for over a year.
Second I totally agree that they are not new to the Stewart area and they are not just 'nearology' types. Ross Blusson worked up in that area for many years and he knows virtually all the players up there. The company has had a project up there for years and they have recently gotten control of a bunch more claims right beside exciting discovery holes at DEC/MTB and AOT. These plays are probably worth 20 to 30 cents a share by themselves based on the valuations of the other serious players in the neighbourhood..
Add the 2 together and you get a valuation of 40 to 60 cents a share IMO.
Third and this is the correction.........there are no longer 18 million warrants outstanding any more.......there are only 3,950,000 at 10 cents which came as part of the Mineralfields private placement in December. All of the other warrants from previous financings have expired. You can find this info the the March 2009 quarterly report. You must be looking at an older report.
My guess is that at least half of these 10 cent warrants were exercised this week into the volume at 12 cents and above. This will put a decent amount of cash into the treasury and more importantly it means there are very few warrants left to be exercised. Once all of them have been exercised and the other weak longs have been taken out the stock will be off to the races because there will be no overhead whatsoever from warrants.
This is hugely positive for the week to come people !!!