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 Bargains as of November 23rd, 2007

 Calculators

 

Black-Scholes analysis (no dividends)

Black-Scholes analysis (with dividends)

Warrants binomial model calculator

 
      Exercise Wts to Price of Historical Warrant     Potential RANK
Company Symbol Expiry Price Exercise  Common Volatity Price FMV   GAIN by GAIN
Acuity Small Cap ASF.WT  15-Jan-10 $12.00 1 7.25 61.40% 0.265 $1.64 Bargain -518.9% 7
Bankers Petroleum BNK.WT.A  01-Mar-12 $0.90 1 0.86 111.00% 0.41 $0.66 Bargain -61.0%  
Canadian Income Mgmt Tr CNM.WT  28-Feb-12 $2.60 1 0.33 165.90% 0.04 $0.27 Bargain -575.0% 5
Coalcorp Mining CCJ.WT.A  17-Aug-11 $8.40 1 1.81 86.80% 0.14 $0.58 Bargain -314.3%  
Coalcorp Mining CCJ.WT  08-Feb-11 $5.60 1 1.81 86.80% 0.24 $0.63 Bargain -162.5%  
Copernican British Banks Fund CBB.WT  14-Jun-10 $10.00 1 6.19 102.30% 0.22 $3.16 Bargain -1336.4% 1
Enervest Energy and Oil Sands  EOS.WT 02-Oct-08 $8.70 1 8.5 43.40% 0.35 $1.42 Bargain -305.7%  
European Premium Dividend EPD.WT 12-Nov-10 $10.00 1 9.6 43.40% 0.25 $3.15 Bargain -1160.0% 2
Faircourt Gold Income FGX.WT 31-May-10 $10.00 1 9.5 15.00% 0.15 $1.25 Bargain -733.3% 4
Faircourt Gold Income FGX.WT 30-Oct-09 $10.00 1 9.5 15.00% 0.15 $1.00 Bargain -566.7% 6
Focused Global Trends Fund FTF.WT  30-Jul-10 $10.25 1 8.9 62.30% 0.35 $3.44 Bargain -882.9% 3
Focused Global Trends Fund FTF.WT  30-Jan-09 $10.25 1 8.9 62.30% 0.35 $2.09 Bargain -497.1% 8
Front Street Resource Perf. Fund FRE.WT 09-Nov-09 $11.00 1 10.45 20.90% 0.75 $1.45 Bargain -93.3%  
Geovic Mining Corp GMC.WT.B  27-Apr-12 $5.00 1 2.72 91.10% 1 $1.62 Bargain -62.0%  
Geovic Mining Corp GMC.WT.A  06-Mar-12 $3.00 1 2.72 91.10% 1.2 $1.83 Bargain -52.5%  
I C S Copper Systems Ltd ICX.WT  04-May-09 $1.30 1 0.76 81.60% 0.11 $0.18 Bargain -63.6%  
Katanga Mining KAT.WT  20-Nov-11 $8.50 1 14.42 144.00% 7 $12.95 Bargain -85.0%  
Lateegra LRG.WT  01-Dec-08 $1.50 1 0.22 235.40% 0.02 $0.11 Bargain -450.0% 9
M A C C's Sustainable  MYT.wt.a 13-Dec-07 $8.00 1 7.35 36.70% 0.015 $0.06 Bargain -300.0%  
Medical Intelligence Tech MIZ.WT.A  20-Oct-08 $0.85 1 0.47 108.30% 0.065 $0.11 Bargain -69.2%  
Mega Uranium MGA.WT.A  06-Jun-12 $7.00 1 3.88 112.30% 1.5 $2.80 Bargain -86.7%  
Mega Uranium MGA.WT  12-Feb-12 $6.00 1 3.88 112.30% 1.8 $2.80 Bargain -55.6%  
Metrobridge Networks  MEB.WT  26-Jul-09 $0.65 1 0.4 123.50% 0.09 $0.17 Bargain -88.9%  
New Gold Inc. NGD.WT.A  28-Jun-17 $15.00 1 6.4 47.90% 1.5 $2.92 Bargain -94.7%  
Oilsands Canada Corp OCF.WT  31-Jul-10 $10.25 1 9.74 25.10% 1 $1.94 Bargain -94.0%  
Palo Duro Energy PDE.WT  23-Mar-09 $0.50 1 0.085 179.60% 0.025 $0.04 Bargain -60.0%  
Petro Rubiales Energy PEG.WT 12-Jul-12 1.3 1 1.25 74.40% 0.42 $0.77 Bargain -83.3%  
Pinetree Capital PNP.WT  16-Apr-12 $15.00 1 5.19 100.70% 1.25 $3.00 Bargain -140.0%  
Quadra Mining QUA.WT  08-May-10 $20.00 1 16.88 65.90% 3.82 $6.43 Bargain -68.3%  
RailPower P.WT  12-Feb-10 $1.25 1 0.35 229.20% 0.1 $0.30 Bargain -200.0%  
S M T C Mfg Corp of Can SMX.WT  04-Mar-09 $9.25 5 2.1 155.90% 0.04 $0.14 Bargain -250.0%  
Salazar Resources SRL.WT.A  31-May-09 $4.00 1 2 88.10% 0.25 $0.49 Bargain -96.0%  
Southern Era Diamonds SDM.WT 17-Nov-08 $2.00 1 0.355 139.70% 0.01 $0.05 Bargain -400.0% 10
Urbana URB.WT  11-Jan-09 $3.75 1 4.35 63.40% 0.73 $1.49 Bargain -104.1%  
Urbana URB.WT.A  12-Jul-09 $3.75 1 4.35 63.40% 0.85 $1.71 Bargain -101.2%  

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Notes

 

1) AEM and MGT's warrants and trade in US funds. They have been converted to Cdn$ for calculations.

 

2) DML and SVM's share price has been adjusted to reflect multiple shares.

 

3) IMG.WT, K.WT.B, YRI.WT.B and YRI.WT.C's exercise price has been adjusted to reflect the multiple needed to exercise.

 

The intrinsic value is market price of shares minus exercise price of warrant.

 

Fair market value is calculated using the Binominal American calculations on *historic volatility for the past month annualized.

 

Leverage is market price of shares divided by market price of warrant.

 

*Historic volatility is the deviation of the stock price over a one month, multiplied by  (262 days) to produce an annualized volatility level.A volatile market therefore has a larger standard deviation of stock price and therefore gives  the warrants a higher value. High volatility mayshow a reversal in a trend or could be a reaction to news put out by the company. High volatility can cause sharp price reversals.

 

***All comments are based on calculations alone and not a recommendation to buy. Fair is 10% either way, undervalued is 11% - 50%, bargain over 50%. Overvalued is 11% - 50% over and very over valued is over 50%.

 

Good sites for US warrants are:

Amex Stock Warrants

NYSE Stock Warrants

Nasdaq Stock Warrants W

Nasdaq Stock Warrants Z

OTCBB Stock Warrants W

OTCBB Stock Warrants Z

thanks to

http://www.equitywatcher.com/