70M Warrants to Sprott???? This makes no sense. There is something going on behind the scenes here.
They bought 70M share on the open market? Maybe VIA the open market, but not ON the open market.
Concidence that Mr. Iacono recently sold some warrants? Not likely. My guess is he needed to drop the price to the "agreed upon" cross price
The warrants are not (in and of themselves) a good investments. Purchased between 0.08 and 0.15/wt, and they are exercisable at $2.60/sh. If Sprott thought it was so undervalues, they would have bought stock.
I can think of only 2 possibilities:
1) The terms of the warrants will be changed (incetives to exercise at a lower price?)
2) They need the control provided by the warrants. (or it is somehow related to the upcoming financing)
This one has me stumped, but my guess is it will become more clear fairly soon.