RE:RE:Good luck to all the old CPN shareholders A reminder that when F&M bought Cpn the shares came with warrant valid until May 2018 (or sooner if the sp. exceeds 2.70 for 20 days) each of these warrants is good for 1/2 share , so two could be exercised for one share of cpn @ $0.12 later with consolidation 36.3 warrants could be exercised for 1 ESM share at a price of 2.18, adding approx 8 million shares to the float.
My theory is that this is the timeframe and price at which they wanted to do funding to replenish coffers and move to next steps of the development ie exploration, revised PEA etc.
Im thinking the company had in their DD determined that 2.70/share would be a good price to set for any futue pp or funding ...hence its no surprise why the analyst pulled that as a target price