Year End EventsWarrants:
Expiration Price Outstanding Proceeds
Dec 31 2011
.10 3,250,000 $325,000
Dec 31 2011
.40 1,340,750 $536,300
Dec 31 2011
.50 1,781,533 $890,766
A total of 6,372,283 warrants expire at the end of the year where and if exercised, net proceeds of $1,752,066 to the Company. Although not every warrant holder who exercises will be an immediate seller of common, I think said warrants might help explain recent activity in the shares. To a LARGER extent, I'm of the opinion that the down draft in shares of late can be best be explained by momentum traders jumping to the sidelines.
Obviously, everyone here is waiting for word on the off take agreements. As a reminder, there is other news pending:
- Drill results Wellgreen
- Drill results Lynn Lake
- Assay results of 470 drill core's being retested