There are a number of good points made on both sides of the warrant issue. Its hard to say which side is right as we do not know Frank's exact situation and his available options. For instance, if he knew he could get the resource estimate out with more than 1 million oz, extending the warrants would simply be giving a discount to certain shareholders at the expense of others.

It is always a good idea to treat your large investors well in case you need more money. Right now, I am waffling on whether to average down on my investment or just sell all and minimize my losses. I will probably do nothing because I do not know all the facts and Frank's plan of action. Anyone have a better crystal ball?

Bob