posted by oldstock

I have a much better understanding of DON's position in regards to the 4 Joint Ventures they have agreed to participate in.
There was never any question in my mind as to whether that would happen or not, I just did not understand the deal.
What it boils down to is DON can not go off on itself and explore elsewhere for 2 years. DON has committed to work exclusively on the 5 parcels of land that makes up the Mattagami mining camp. Xstrata very much wants and needs Don's participation, that is my take not a quote..
At present there is about 18 million warrants yet to be exercised. Here is the rub. The buyers don't feel like giving the warrant holders any more than they have to. The warrant sellers would rather take nothing than sell for less than 31 1/2.
Kind of like " cutting off your nose to spite your face " I fully understand both parties positions, BUT............for the sake of a journal entry there are those that would rather the warrants died than take any less. This does not help DON and in the end the warrant holders make nothing instead of a nice chunk of pocket change. On the buyers side I'd like to see them try and buy the positions they want once these warrants expire. I'd say the time to buy is this week. The warrants ( 30 & 35 cent ones ) die on Tuesday. Many of them may be as good as dead by Fri. Unless they exercise them and keep them for a while. It takes time to get things done, many back offices at brokerage firms are swamped with tax stuff.
The financing deal will be announced in short order. Again that is my take. It might be the catalyst to getting the rest of the 25 cent warrants dealt with. David felt most of them would take care of themselves over the nest few months.
IF, one wants a position of size it is now, not a few weeks from now. There must be some big players that are sitting around waiting for the news. It blows my mind. As of right now there is the possibility to buy 15 - 20 million shares with a 35 cent average. In less than a week that changes dramatically and by June they are virtually gone. So a paltry 6-7 million bucks would buy you 10 % of the company.
Empty your piggy banks and make some money.
GLTA