RE: Call from Management todayDon't get complacent with outstanding shares. Only 40 million will be only 60 million in not too distant future and there will be more since exploration will most likely outpace any production. You also can't compare companies in the basis of the number of outstanding shares unless you factor in properties, shares of those properties, etc.
Fergus, I don't know what you are talking about in terms of shareholder protection. How does forcing the holders to exercise at 40 cents if the stock is trading above 1.35 protect shareholders? Do you understand what they are saying (I don't think you do)? This is not the price of the warrant, the price of the warrant is the same. It just says that the company has some control of when it collects on some of the cash if the price goes over 1.35 and you can bet that an institutional investor can do a lot to ensure that threshold is fought off for quite a long time unless the results are fast and furious and spectacular.
With this price, a guy like Casey is sitting on a four million dollar profit. If you bought in at 30 cents, your profit is half of his because you have no warrants. 40 cent warrant for three years when the stock price was 34 cents is a giveaway. A company that has well understood prospects will not get bullied into a warrant that is 6 pennies out of the money and an insititutional investor that understands the prospects and that you want in your corner, would not flinch much at higher priced warrants. I'll bet you anything that none of these so called institutional shares will hang on to all of their shares as much as most of the retailers. So it is cheap overhang.
Time will tell how things pan out but I believe the terms of this pp have put a damper on things over the months to come.