RE: RE: Prophecy Coal Extends Warrant Expiry Dates "Thats bologna. I cant believe thats allowed for any reason. Why put a deadline if it can just be extended? Makes no sense."
Well, at least they are not cheap warrants being extended and are 90% higher than the current stock price. IMO, its all about the money. If exercised, that's an additional $5,268,676.10 cash to the Company. Given the PP that we just endured, I would rather PCY extend the warrants than raise an additional $5M at
.42. The question now is will the stock price ever appreciate enough to put them in the money. With the PEA on Wellgreen and the PPA on Chandgana, management seems to think so. With insiders taken out of the loop, I'm curious as to the history of these warrants like if they were used as kickers in a previous PP. As we know, PCY has not demonstrated a good track record in making those who participate in PP's any money (ie: just like us shareholders). With that in mind, I think they had to extend the warrants just to appease past investors. When warrants are extended, that is always viewed as a black eye on performance. It's a shame they can not do anything to appease us average Joe's. I have two black eyes!