Peregrine Diamonds Ltd. PGDIF

Expired Warrants

[aea257]

Wasn't there a clause in the warrant offering that if any warrants went unexercised the big three could buy them up? 
What expiry date did they have to do that?

[Gauwd]

that was the rights, not the warrants if memory serves

[woundedknee]

I read an article recently where it said it was expected that the freidlands would exercise their warrants, so I assume they have a few..not sure how many. I stand to be corrected.

[cudjo]

can you share the article? Haven't read it or seen it. I agree with the G man, if they were going to exercise, why wait for the last possible second, it would show leadership, but on the converse side, another 72 million shares in the float and with the market believing this is only worth 44-48 million, share price could smack 14-15 cents again if they all go into the float.

[mill44]

It is bad if you guys are speculating on the big 3 exercising their warrants or not. The only explanation for the warrants price was that they wanted more shares for cheap, so I did not even entertain that idea yet. If they don't exercise then whoever said that the market has no clue about what's on Chidliak might want to rephrase it to no one knows what's there, not even our leaders

[Fivecarat]

So Mill, to clarify, do you think it is bad or not bad that people are spec if the big 3 are going to excercise?  Or are you saying it is bad that people are even spec that? Plus, are you saying the only reason for the low price was so they could get cheap shares? Thx

[mill44]

A few ideas were brought up for the price. I said it was to guarantee more shares for dirt cheap for themselves, nothing else made sense to me. Some said that it was to make sure that the warrants would be exercised. Since they set the price, they must have known what the treshold would be for them. They also knew that they would have the most warrants. If they don't exercise, the market will

[Gauwd]

it wouldn't be the first time warrants expired, they did when DeBeers fled, don't recall anyone from management exercising then. As for the price, doesn't the market require a discount? If they are lining up a JV or partner as some believe, todays sp, even the sp 3 months from now wouldn't matter to them. If they are seeking a partner to JV with, owning more shares wouldn't be

[Gauwd]

if they do not exercise, then a flood of selling would allow them to pick up more even cheaper than .21, and I agree mil, 15 cents would be on a hope and a prayer. For me a mute point, I sold my warrants, mainly because I am not putting more into this but if a few insiders had shown the way, it may have convinced me to do otherwise.MHR

[maintenance1]

There is pretty much never a reason to exercize early. What if Baffin Island were to sink? Not likely, but why chance it when there is absolutley no cost to waiting? You may consider the optics to the market as a reason. Perhaps. If  the brothers do not excersize, sub 5 cents is almost inevitable. I don't think that will happen. They missed the AGM to go overseas. What a snub to

[Gauwd]

one very good reason to exercise early from our leaders is to show leadership. So far, only Clements has done this, to the tune of 21K shares, he put out 4.4K, I wouldn't call it leadership. MHR