RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:four asked to re bid If the underlying value in June 2017 and June 2018 was around 13c then the stock should be trading around that level.
That is close to the exercise price of 12c warrants.
16,000,000 December 8, 2020 0.125
15,932,555 March 15, 2020 0.12
$3.9M is not enough to run Dufferin but enough to pay off some of the liabilities.
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I can't make sense of the 30c warrants in 2018.
Dufferin could have brought in $121.1M/10yrs = $12M per year or 6.9c/yr
13.0c + 6.9c = 20c
Dufferin would have had to been in production to command 1.5x premium.
1.5x 20c book = 30c
Even then the 30M of warrants would have only brought in $7.5M.
That would not have been enough to boot strap Dufferin.
All I see is a ghost of an investor that did not commit.