February 20th AUM “warrants” will expire…..worthless.

Has purchasing “warrants” in this company been a good investment?? Not for me. However, answer yourself these facts before jumping to conclusions on buying them yourself. A stock “warrant” is just like a stock option because it gives you the right to purchase a company's stock at a specific price and at a specific date. However, a stock “warrant” differs from an option in two key ways:

1) A stock “warrant” is issued by the company itself.New shares are issued by the company for the transaction. Unlike a stock option, a stock “warrant” is issued directly by the company. When a stock option is exercised, the shares usually are received or given by one investor to another; when a stock “warrant” is exercised, the shares that fulfill the obligation are not received from another investor, but directly from the company.

2) Companies issue stock “warrants” to raise money. When stock options are bought and sold, the company that owns the stocks does not receive any money from the transactions. However, a stock “warrant” is a way for a company to raise money through equity (stocks).

A stock “warrant” is a smart way to own shares of a company because a “warrant” usually is offered at a price lower than that of a stock option. Was owning “warrants” in ECU / AUM a smart idea? The longest term for an option is two to three years, while a stock “warrant” can last for up to 15 years. So, in many cases, a stock “warrant” can prove to be a better investment than a stock option if mid- to long-term investments are what you seek. I was seeking a mid to long investment in ECU “warrants” and got burned.

I will definitely think again on any investment in “warrants” because of this blunder. The tide will turn in ten days and let us hope like the old mariners aphorism says a “rising tide lifts all boats”. This saying of course is associated with the idea that improvements in the general economy will benefit all participants in that economy. Silver and gold miners are on the cusp of rising again. It’s time to benefit.

Golden Minerals -- We shareholders all hope you have a much better three years than the last three,,,,warrants or no warrants!!