Timmins & Beardmore - Northern Ontario

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Message: Re: Outstanding warrants
2
Sep 29, 2009 10:31AM
1
AGORACOM
Sep 29, 2009 11:52AM
4
Sep 29, 2009 12:05PM

Tibber I agree probably not necessary to keep putting this in presentations when in all likelihood all options and warrants will not be exercised... would be different if share price was trading or at least had traede somewhere near the exercise price of some of these warrants... but it has not for almost 1 year...

As you posted earlier... the next set of warrants to expire are as follows and represent about $5.1 million... the weighted average may be $0.28 but all the November warrants that will expire are at $0.75...

5,428,570 warrants @ $0.19 expiring October 12, 2009 = $1 million
5,480,000 warrants @ $0.75 expiring November 14, 2009 = $4.1 million

$0.19 before October 12th is a stretch based on activity of late and $0.75 by November 14th would be nothing short of a miracle...don't get me wrong I hope I am wrong... would be a great festive season that's for sure...

red911

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