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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Message: Warrant head scratching

Warrant head scratching

posted on Mar 12, 2008 04:34AM

After reviewing last night battle royale I am reminded of those great Seinfeld shows where they would argue/fear/hypothicate about nothing.

One of our major shareholders has warrants that are trading in the retail market, Pinetree. check out pnp.wt.a These warrants allow you to buy Pinetree, pnp at a price of $6.50 up to some point in time, I think in 2012 (do your own DD on the date). In theory if PNP were to trade at $7.50 the warrants would be worth $1.00.

Don't spill your diamond shreddies but.... warrants have a bid of $1.80 and the PNP shares are bid at $3.90. Rephrasing, pay $1.80 to get a warrant, pay another $6.50 to exercise the warrant to get a stock trading at $3.90.

Old Joe, this sounds like an investment you could make since you obviously know more than the rest of this board combined and can unlock the mystery behind this situation. I'd buy 10,000 at 10 cents and put it away, but $1.80, ouch.

PS 52 week high on the warrants is $2.50 (only been trading for 3 weeks.

GLTA & GB

BB

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