Warrants

HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Dayreaper

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Warrants

posted on Feb 27, 2008 10:17AM

I have to disagree with an issue regarding the recent PP Warrants.

It was discussed that the MM are attempting to hold the SP down below $6 to avoid having to exercise the warrants on an accelerated basis. The thing is, these warrants cannot be traded prior to the 4 month hold period, regardless of what price we are at. Effectively, they cannot trade prior to June 7, 2008, afterwhich, if they exeed $6 for 10 straight days, they will be accelerated and need to be exercised within 30 days.