RE: RE: RE: WT.""C"Agreed, sharebase dilution, and M&A, or acquisition activity will have some effects. In the case of a takeover or merger, I would think that the warrants assets have to be factored into the new share structure in a fair and equitable way.
Why do you think NGD ended up with its somewhat complex smorgasbord or warrants with split shares etc. Its because all these warrants were inhereted by NGD from companies that they took over, so the odds are they will still retain a similar valuation.
When it comes to a major like a barrick or goldcorp or something, it may be that the larger company drowns out the effects of NGDs growth profile, but you can bank on Oliphant and co being large equity holders, only doing whats best for their own unit holders. These guys will ensure that NGD is never undervalued to the point of being a target. Not too mention, the 1M oz mandate is going to take beyond 2011-2012, and thats when they will be noticed by the big guys.
The biggest question to me is what is the insider ownership of the A, B, C class units. I would like to know.