"In the example, we are discussing the value of the warrant as it applies to the current ARU share price. The value of the warrant is determined by the strike price of the warrant (in this case $32.00) and the time the warrant has to go to expiry ( in this case 5 years). The price that is attributed to the current ARU market price for this warrant is $0.47. This equates to $3.29 per K warrant.( $3.29 x .1427 = $0.47)"

You are making a big assumption that the current mkt. prices perfectly reflect the prices of the shs. & wts. That is just wrong because if it were true the price changes today of ARU & K wud have remained in that perferct ratio. Today ARU up 5.0% & K up 1.5%.

This is getting awfully boring.

Regards

Joltin