RE:RE:WESTHAVEN RECEIVES $333,333 FROM WARRANT EXERCISEIt makes pefect sense for someone to exercise in-the-money warrants that are about to expire. They can use the cheap shares to increase their position, or if they don't want to do that, they can make a couple cents risk-free by selling them in the open market. Looking at the chart for the last few months it appears that whenever the price rose much above $.16, volume picked up, and the price went back down. That's what I'd expect to see if someone with shares and warrants decided to sell shares and replace them by exercising warrants.
If I undrestand correctly, there's another 3.3 million warrants at $.16 expiring next week. After that there are about 10 million warrants expiring at various times over the next 13 months, at prices between $.07 and $0.13. As long as they stay in the money, we can expect them to be exercised, and to fund exploration without having to do much in the way of private placements.