RE:RE:RE:How many millions of warrants are@ .055 & .08 & .12?Before the most recent offering there were 53 million warrants listed in the investor presentation, fully liquidated share float around 300 million shares. Then what has been added, another 10 million?
If the price of gold really does complete the chart pattern of the huge cup and handle from 2011 and takes off above $2000, with silver catching some backdraft, some great drill cores will easily blow through those warrants - remember they are so cheaply priced the total value is not huge - 60 million at a dime is only six million bucks, that is peanuts if a viable deposit is indicated by drilling. And suddenly warrants get exercised and the shares are held or accumulated.
You’re right about the overhang making this current market wary though ... with teaser results like the Del Norte visual core, and the several claims being worked, a market cap of $16 million CDN looks pretty skinny. This has been a very dull and choppy market all summer for the majority of junior explorers. A terrible trading market, but for buy and hold accumulators looking for exposure ... not bad at all, provided you are willing to carry your position and be patient.
All eyes on the POG.
cg