I think  many of the  wts   in  cash  accounts  will  have been exercised... Many have  likely  sold their  PP stock  over the  past  year... and  have  been  riding the  wts. Some  like  me  kept them  all...LOL

I sold   my PP  stock  along the  way   to allow  exercise  of the  wts in my  RRSP acct to be  exercised, as   Wt's in  RRSP's  cannot be  short  sold  to exercise and  thus  one has to   wait  for the   transaction to be  completed  before  being  able to  sell  any  of those  shares....... Good  thing for me  because I  may have  been  tempted to sell into this last  run..

The  results  have been  much better  than I could imangine  so I am thankfull  for the  cumbersome  exercise within my  RRSP.

Since the  wts  are  good  untill Dec  2008  it is a very  nice  way to  play  NOT..... Holding  my wts  in  the  cash acct... and  holding the  exercised  stock in the  RRSP  acct... At  least that  is  how I'm  dealing  with this  sudden " Windfall".....  sorry  had to say it...LOL 

I would expect that  many  wt  holders are  doing  similar stratagy, or  have   taken  huge  profits  off the  table.... good thing is  this  will add  $20 million into the treasury, so  cash  won't be an issue  going  forward... as they  already  had  about  $15 million  prior to the  run.