RE:RE:RE:RE:RE:RE:glass half fullTechnically they sold 7.1 million
units (consisting of 1 share + 1 warrant) at ca$5.60, if you'll excuse the nit-picking. But you are absolutely right that buying shares now at around $5 makes even more sense when you consider that the warrants are very likely to result in millions of new shares being issued over the next year or two at strike prices that are considerably higher than $5.
invest234 wrote: they sold 7.1 million shares at ca$5.60 so all the shares they are currently buying back below ca$5.60 they are making a profit on, up to 7.1 million shares. and if those warrants get exercised at ca$6.50 next year while they are buying those shares at current ca$5.15, that would be an even bigger profit.
definately should be buying as much as they can at these prices.
ChupacabraBueno wrote: 7Twiggy wrote: Looks like the date they expire should be kept on our calendar. Do you know the date? Sedar is down for maintenance today.
This excerpt from the announcement in the link below shows that Sprott has or had more than 7.1 million $6.50 strike price warrants that expire February 6, 2023. I'm not sure that he still has all of these warrants or whether he might also hold other GCM warrants. It would be a shame if he doesn't make any money on them as GCM should be trading over $6.50 sometime before Feb, 2023.
"
7,142,857 Units of the Company at a price of CA$5.60 per Unit for total proceeds of CA$40 million. Each Unit consists of one common share and
one common share purchase warrant exercisable into a full common share at CA$6.50 per share expiring February 6, 2023."
Gran Colombia Gold Announces Closing of CA$40 Million Private Placement;