RE: SND Warrants? "Someone" really wanted out of their warrant position before the end of January -- a sale today would still close by Jan. 30. I am kicking myself that I didn't have a stink bid in at $.01 -- just never figured that anyone would sell that low!
The recent changes to the Royal Coal commodity stream agreement are good for SND over the long-run and are an excellent example of why other producers should be lining up to work with Nolan's team.
Nevertheless, the changes DO impact 2012 cashflow projections and I find it hard to imagine that the Sandstorm BoD would allow these warrants to expire without extending the validity date until at least until the end of 2013 in order to be fair to ALL stakeholders.
IMO - Nolan's team has not yet made a wrong move and I don't expect that their first one will be to the detriment of SND shareholders - including the SND warrant holders.
I also truly believe that it is in the best interest of all SND stakeholders for these warrants to be exercised and there are numerous reasons why management should want this outcome. However, the changes to the RDA agreement are sufficient justification for a one-year extension.
Boy do I wish that I had put in a stink bid -- still can't believe someone would just dump 5M on the open market -- kick kick kick -- kicking myself as I'm walking!!!!