GREY:CGOOF - Post by User
Post by
barsaxon Mar 09, 2011 4:38pm
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Post# 18261254
Restart the Warrant Clock
Restart the Warrant ClockClose below $9.75 wipes out the 20 day time period to force the conversion of the Sep 2012 Warrants (6.2M @ $7.50). There are still 6M warrants expiring at the end of this month, representing about $13M of cash due to the company. If (when) the Sep 2012 warrants are converted, the company should receive about a $47M cash injection. Lots of money to carry on with proving up many more ounces.
I note that TD analyst referred to Buritica as a "flagship" property, and by extension, Continental, as the "flagship" company in the Columbian gold mining sector. My belief is that a "flagship" property/company would be expected to be in the 10M+ ounces range.