RE: Maybe another reason!!! Well it's cheaper for them to have had the warrants exercised yet the market conditions appear unwilling at least for the $0.20 warrants where the bulk of the proceeds would be raised. There is of course the exposure to the Peruvian side of the equation which we cannot quantify as of yet.
22,853,000 @.20 Expire Dec 23/12 For proceeds of $4,507,600
3,221,000 @.13 Expire Dec 23/12 for proceeds of $418,730
3,850,000 @.20 Expire Jan 7/13 for proceeds of $770,000
500,500 @ .13 Expire Jan 7/13 For proceeds of $65,065
Todays announced PP amounts too
14,847,727 units for proceeds of $1,781,727
7,423,863 warratns for potential proceeds of $1,484,772
Cost of Financing $124,720 plus 1,039,340 Broker warrants exercisable at .20 for potential proceeds of $207,868
Total potential dilution 23,310,930
Total potential Cash raised from this financing $3,474,367 US.
Cheers
Shoe