Canadian Stock Warrant Values 2007


Company Name	Symbol	Shares O/S	Last price	Market Cap	52wk high	52wk low	EPS	Primary	Country
Goldcorp	G	704,172,190	34.1	24,012,271,679.00	34.8	22.4	0.39	Gold	North and South America
Kinross	K	591,446,866	18.46	10,918,109,146.00	19.61	10.58	0.41	Gold	Canada, US, S. America, Russia
Yamana Gold	YRI	353,329,316	12.77	4,512,015,365.00	17.86	9.05	0.31	Gold Copper	Canada, Ecuador, Mexico
Silver Wheaton	SLW	221,779,405	17.22	3,819,041,354.00	17.37	10.41	0.36	Silver	Mexico, Peru, Sweden, Greece
Equinox Minerals	EQN	552,181,648	5.51	3,042,520,880.00	5.68	1.61	-0.04	Copper Uranium	Zambia
Pan American Silver	PAA	76,457,724	34.75	2,656,905,909.00	36.94	22.44	1.16	Silver	Mexico, Argentina, USA
Iamgold	IMG	293,059,557	8.01	2,347,407,052.00	10.9	6.81	-0.13	Gold	N and S America, Africa
Thompson Creek Metals	TCM	111,870,658	17.4	1,946,549,449.00	25.58	7.11	0.9	Moly Producer	Canada, USA
Eastern Platinum Limited	ELR	667,403,060	2.8	1,868,728,568.00	2.97	1.21	-0.02	Platinum	South Africa
First Capital Realty	FCR	76,969,914	24.01	1,848,047,635.00	29.3	23.78	0.43	Real Estate	Canada, USA
Denison Mines	DML	189,593,835	8.81	1,670,321,686.00	16.57	7.82	0.2	Uranium	Canada, USA, Australia, Africa
Katanga Mining	KAT	78,087,476	16.59	1,295,471,227.00	28.07	6.34	-0.45	Copper Cobalt	Africa
Osisko Exploration	OSK	155,925,851	5.95	927,758,813.50	7.24	4.06	-0.13	Gold	Canada, Brazil
Quadra Mining	QUA	50,380,655	17.68	890,729,980.40	20.3	6.93	3.57	Copper Gold	USA, Greenland, Chile
NovaGold Resources	NG	104,573,823	8.14	851,230,919.20	20.44	5.9	-0.3	Gold Copper Zinc Silver	Alaska, Yukon, BC
High River Gold Mines	HRG	294,324,710	2.88	847,655,164.80	3.2	2	-0.02	Gold Silver	Russia, West Africa
Petro Rubiales Energy	PEG	628,878,895	1.28	804,964,985.60	2.00	0.071		Oil & Gas	Argentina, Columbia
Breakwater Resources	BWR	418,272,645	1.73	723,611,675.90	3.69	1.57	0.23	Zinc Other	Canada, Chile, Honduras
Mercator Minerals Ltd	ML	73,172,536	8.98	657,089,373.30	10.64	2.5	-0.08	Copper Moly Silver	Arizona, USA
Uranium Participation	U	59,857,091	10.58	633,288,022.80	18.76	8.61	3.93	Uranium	Holding Company
International Minerals Corp	IMZ	95,100,001	5.82	553,482,005.80	6.02	4.9	-0.04	Gold Silver	Ecuador, Peru
Mega Uranium	MGA	154,594,876	3.55	548,811,809.80	8.98	2.38	-0.1	Uranium	Canada, Cameroon, Mongolia, S America
Metallica Resources	MR	92,436,651	5.27	487,141,150.80	6.24	3.62	-0.07	Gold Silver Copper	Mexico, Chile, Alaska, Mexico
Great Basin	GBG	180,064,312	2.65	477,170,426.80	3.48	1.85	-0.28	Gold	South Africa, Nevada
Silvercorp Metals	SVM	48,954,098	9.33	456,741,734.30	10.28	5.103	0.34	Silver	China
Dundee Precious Metals	DPM	60,832,505	7.29	443,468,961.50	11.97	6.72	0.8	Precious Metals	Fund
Pinetree Capital	PNP	99,597,348	4.45	443,208,198.60	24.54	3.5	0.29	Merchant Banking - SmallCap Resources	Financing
Peak Gold	PIK	725,541,396	0.57	413,558,595.70	1.1	0.315	0	Gold	Brazil, Australia
European Minerals Corp	EPM	280,080,853	1.41	394,914,002.70	1.83	0.82	-0.03	Gold Copper	Kazakhstan
Bankers Petroleum	BNK	448,109,492	0.87	389,855,258.00	1.02	0.35	0	Oil & Gas	Canada, US
Neo Material Tchnlgys Inc	NEM	79,273,958	4.9	388,442,394.20	5.6	2.28	0.31	Producer and Devloper REMs	Canada, China, Thailand
WesternZagros Resources	WZR	165,057,183	2.35	387,884,380.10	4.25	1.9		Oil & Gas	Kurdistan
Ivanhoe Energy	IE	241,932,324	1.57	379,833,748.70	3	1.36	-0.13	Oil & Gas	US, China
Baffinland Iron Mns Corp	BIM	79,831,525	4.5	359,241,862.50	5.04	2.15	-0.62	Iron Ore	Canada
Bear Creek Mining	BCM	45,209,523	7	316,466,661.00	9.38	5.69	-0.33	Silver	Peru
Skye Resources	SKR	44,142,618	7	308,998,326.00	12.18	6.31	-0.74	Nickel	Guatemala
Nevsun Resources	NSU	117,519,322	2.28	267,944,054.20	2.94	0.8	-0.93	Gold Copper Zinc	Africa
Etruscan Resources	EET	121,523,163	2.2	267,350,958.60	4.48	1.77	-0.18	Gold Diamonds	Africa
First Majestic Silver Corp	FR	54,017,837	4.49	242,540,088.10	6.33	2.81	-0.19	Silver	Mexico
Yukon-Nevada Gold	YNG	175,108,430	1.37	239,898,549.10	1.85	1.05	-0.07	Gold Silver Zinc Copper Moly Uranium REMs	Canada, USA
DPF India Opportunities Fund	DPF.UN	25,000,000	9.51	237,750,000.00	10.49	8.15		India	Fund
Endeavour Mining Cap	EDV	23,508,778	9	211,579,002.00	11.24	6.08	3.94	Mining Financing	Financing
U S Gold	UXG	63,502,243	3.24	205,747,267.30	8.12	2.77	-0.41	Gold	USA
Baja Mining Corp	BAJ	112,672,924	1.8	202,811,263.20	2.57	1.2	-0.16	Copper, Cobalt, Zinc, Manganese	Mexico
Sprott Molybdenum Part. Corp.	MLY	44,488,312	4.55	202,421,819.60	6.99	3.25		Moly Fund	Fund
North American Palladium Ltd.	PDL	56,377,791	3.54	199,577,380.10	13.65	3.43	-0.46	Palladium	Canada
Coalcorp Mining	CCJ	89,656,268	2.13	190,967,850.80	5.48	0.075	-1.04	Coal	Columbia
New Gold Inc.	NGD	36,949,717	5.06	186,965,568.00	9.64	4.01	-0.6	Copper Gold	British Columbia
Geovic Mining Corp	GMC	100,707,788	1.77	178,252,784.80	4.62	1.3	-0.15	Cobalt Nickel Manganese	Cameroon, Africa
Chesapeake Gold	CKG	19,777,795	8.08	159,804,583.60	8.38	4.76	-0.16	Gold	Mexico, Nicaragua
Urbana	URB	28,548,100	5.39	153,874,259.00	5.75	2.85	0.7	Investing in Exchanges	Holding Company
Front Street Resource Perf. Fund	FRE	16,085,779	8.26	132,868,534.50	9.75	7.6		Mixed Fund	Fund
Copernican British Banks Fund	CBB.UN	21,000,000	6.21	130,410,000.00	10	5.55		Mixed Fund	Fund
Uranium Focused	UF-UN	19,007,100	6.84	130,008,564.00	10.69	5.86		Uranium	Uranium Fund
TSO3 Inc	TOS	46,244,102	2.64	122,084,429.30	2.85	1.85	-0.18	Sterilization	Canada, USA
Stornoway Diamonds	SWY	196,062,873	0.62	121,558,981.30	1.38	0.61	-0.1	Diamonds	Canada, Botswana
Metallic Ventures Gold	MVG	51,991,495	2.27	118,020,693.70	2.73	1.64	0.02	Gold Silver	Nevada, USA
Distinction Group	GD	29,107,604	4.05	117,885,796.20	4.1	2.5		Janitorial, Maintenance, Restoration	Canada
Sentry Select Primary Metals	PME	17,500,000	6.6	115,500,000.00	9.49	5.5		Mixed Fund	Fund
Central Sun Mining	CSM	79,284,529	1.22	96,727,125.38	1.37	0.14	-1.89	Gold	Costa Rica, Nicaragua, Panama
European Premium Dividend	EPD.UN	10,000,000	9.5	95,000,000.00	9.8	9		European Fund	Fund
Fortune Minerals	FT	48,546,407	1.94	94,180,029.58	4	1.56	-0.01	Cobalt Gold Coal Bismuth Copper Silver	Canada
Minco Silver	MSV	31,130,466	3	93,391,398.00	3.62	1.52	-0.21	Silver	China
Olympus Pacific Minerals Inc	OYM	193,679,079	0.47	91,029,167.13	1.2	0.395	-0.07	Gold	Vietnam, Phillippines
Grande Cache Coal Corp	GCE	71,557,988	1.18	84,438,425.84	1.74	0.455	-0.32	Coal	Canada
Khan Resources	KRI	53,166,191	1.53	81,344,272.23	5.64	1.06	-0.26	Gold & Uranium	Mongolia
M D N Inc	MDN	86,500,445	0.93	80,445,413.85	1.68	0.65	-0.13	Gold Base Metals	Canada, Africa
Mines Management	MGT	19,735,467	3.55	70,060,907.85	7.51	2.7	-0.54	Silver Copper	Montana, USA
Erdene Gold	ERD	64,955,127	1.02	66,254,229.54	2.05	0.7	-0.09	Copper Gold Coal Uranium	Mongolia
Global Uranium	GUR	10,393,300	6	62,359,800.00	8.7	5.11		Uranium Fund	Fund
Bioniche Life Sciences Inc	BNC	61,711,867	0.91	56,157,798.97	2.38	0.51	-0.31	Research & Therapeutics	Canada, USA, Australia
Creston Moly	CMS	118,773,146	0.45	53,447,915.70	0.58	0.28	-0.11	Moly	Mexico
RailPower	P	89,495,458	0.56	50,117,456.48	1.88	0.21	-0.74	Green Technology Power Generation	Canada, USA
Stingray Resources	SRY	58,725,982	0.76	44,631,746.32	1.19	0.65	-0.14	Copper	Mexico
Focused Global Trends Fund	FTF.UN	4,805,700	9	43,251,300.00	9.6	8.04		Global Trends	Fund
Australian Solomons Gold	SGA	55,379,657	0.78	43,196,132.46	2.35	0.6	-0.03	Gold	Islands off North Australia
Terrane Metals	TRX	107,641,000	0.4	43,056,400.00	0.95	0.32	-0.02	Gold Copper Moly Silver	Canada
International Nickel	INV	48,248,984	0.85	41,011,636.40	2.39	0.7	-0.14	Nickel	Brazil
Argenta Oil & Gas	AZA	96,789,000	0.42	40,651,380.00	0.71	0.33		Oil & Gas	Argentina, Columbia
Enervest Energy and Oil Sands	EOS.UN	4,766,509	8.36	39,848,015.24	9.75	6.34	-0.32	Oil Sands	Canada
Global Agribusiness Trust	AGB.UN	4,000,000	9.4	37,600,000.00	9.95	8.3		Agriculture	Fund
Redcorp Ventures	RDV	132,901,521	0.28	37,212,425.88	0.93	0.135	-0.12	Zinc Copper Lead Gold Silver	Canada, Portugal
Oilsands Canada Corp	OCF	5,000,000	7.25	36,250,000.00	9.5	6.75		Oilsands	Canada
Salazar Resources	SRL	19,953,782	1.75	34,919,118.50	4.39	1.2	-0.26	Gold Silver Copper	Ecuador
Medical Intelligence Tech	MIZ	88,187,286	0.39	34,393,041.54	0.98	0.3	-0.13	Mobile Medical Security	Canada
Acuity Small Cap	ASF	4,000,000	7.25	29,000,000.00	10	6.3		Mixed Fund	Fund
Envoy Communs Group Inc	ECG	10,020,065	2.83	28,356,783.95	4.71	2.6	0.19	Small to Mid-Cap Financing	Financing
Avnel Gold Mining	AVK	63,749,457	0.44	28,049,761.08	0.98	0.35	-0.03	Gold	Africa
Ivory Energy	IV	42,343,434	0.6	25,406,060.40	1	0.51	-0.16	Oil & Gas	Western Canada
Primary Petroleum	PIE	35,648,317	0.63	22,458,439.71	1	0.49	-0.13	Oil & Gas	Canada, USA
I M A Exploration	IMR	52,013,064	0.41	21,325,356.24	1.2	0.355	-0.05	Looking to acquire or jv Gold/Silver	Goal is South America
Fralex Therapeutics Inc	FXI	21,082,397	1	21,082,397.00	2.9	0.4	-0.36	Therapeutics - Depression/Anxiety/Pain	Canada
I C S Copper Systems Ltd	ICX	26,934,120	0.69	18,584,542.80	1.37	0.55	-0.15	Copper	Zambia
Markland AGF Precious Metals...	MPM	2,350,000	7.9	18,565,000.00	9	7.67		Precious Metals	Fund
Bordeaux Energy	BDO	142,373,112	0.13	18,508,504.56	0.96	0.115	-0.23	Oil & Gas	France
T O R R Canada Inc	TOR	46,197,340	0.39	18,016,962.60	0.99	0.285	-0.21	Water Management	Worldwide
Faircourt Gold Income	FGX	2,200,000	7.95	17,490,000.00	9.5	7.33		Gold	Fund
High Desert Gold Corp	HDG	36,000,000	0.44	15,840,000.00	0.6	0.38	-0.03	Gold Copper Silver	US, Mexico
Ascendant Copper Corp	ACX	70,790,574	0.2	14,158,114.80	0.84	0.145	-0.23	Copper, Moly Silver Gold	Ecuador,
Energentia Resources	ENR	71,758,000	0.18	12,916,440.00	0.85	0.15	-0.09	Uranium	Columbia
Metrobridge Networks	MEB	31,185,069	0.34	10,602,923.46	0.6	0.3	-0.08	Internet Access - Wireless Broadband	Canada, USA
Palo Duro Energy	PDE	157,896,844	0.06	9,473,810.64	0.4	0.06	-0.04	Oil & Gas	Texas, USA (subsidiary of BNK)
Rye Patch Gold	RPM	25,848,617	0.35	9,047,015.95	0.91	0.29	-0.12	Gold	Nevada, USA
Blue Sky Uranium	BSK	16,937,500	0.51	8,638,125.00	1.41	0.41	-0.1	Uranium	Argentina, Columbia, Canada
Visible Gold Mines	VGD	22,959,929	0.32	7,347,177.28	0.51	0.2		Gold	Canada
Silverwing Energy Inc	SVW	37,509,483	0.19	7,126,801.77	1.12	0.13	-0.97	Oil & Gas	Western Canada
Dynamite Resources	DNR	17,135,000	0.35	5,997,250.00	1.26	0.205	-0.08	Gold Copper	Canada, Australia, Kyrgyzstan
Gold Point Energy Corp	GPE	41,314,365	0.13	5,370,867.45	0.455	0.115	-0.2	Oil & Gas	Columbia, Argentina
Lateegra	LRG	27,279,415	0.17	4,637,500.55	1.94	0.14	-0.13	Gold Silver	Ecuador, Mexico
Oromonte	ORR	30,703,552	0.15	4,605,532.80	0.56	0.135	-0.06	Gold	Ecuador
VisionSky Corp	VSKY	20,131,667	0.21	4,227,650.07	0.48	0.15	N/A	Oil & Gas	Canada
TriNorth Capital	TRT	17,551,317	0.19	3,334,750.23	0.3	0.1	-0.04	Investment	Financing
Strait Gold Corp	SRD	22,093,940	0.15	3,314,091.00	0.61	0.12	-0.08	Gold Silver Copper Zinc	Peru
Futura Loyalty Group	FUT	84,586,654	0.03	2,537,599.62	0.25	0.02	-0.11	Kids Futures Rewards Program	Canada
S M T C Mfg Corp of Can	SMX	1,226,956	1.6	1,963,129.60	9.14	1.15	0.25	Electronics Manufacturing	China, Canada, USA, Mexico
Canadian Income Mgmt Tr	CNM.UN	5,683,905	0.26	1,477,815.30	0.86	0.205		Mixed Fund	Fund

Notes

1) 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 warrants to exercise has been adjusted also. Please click on the company name to read press release for exact terms.

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

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