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               February 23 2007

                              (companies sorted by name)

                    Stocks in  1 Month      
  U. S. Canadian U. S. Canadian Expiration Exercise Warrants    Price the money Historic   Fair  
COMPANY NAME Symbol Stock Symbol Warrant Date Price per Leverage     of   (Intrinsic Volatility Warrant Market Comments
  Stock Symbol Warrant Symbol   Cdn$ Share   Common Value) Annualized Price Value  
Stelco Inc SECNF.pk T.STE SECWF.pk T.STE.wt 31-Mar-13 $11.00 1 1.68 $23.05 $12.05 61.6 $13.75 $17.61 Undervalued
Canadian Income Mgmt Tr   T.CNM-UN   T.CNM.wt 28-Feb-12 $2.60 1 8.33 $0.50 -$2.10 195.7 $0.06 $0.47 Bargain
Baffinland Iron Mns Corp   T.BIM   T.BIM.wt 31-Jan-12 $2.75 1 3.47 $2.60 -$0.15 32.5 $0.75 $0.93 Undervalued
Katanga Mining KATFF.pk T.KAT   T.KAT.wt 20-Nov-11 $8.50 1 2.52 $8.70 $0.20 30.8 $3.45 $3.20 Fair Value
Geovic Mining Corp GVCM.pk V.GMC GVCMW.pk V.GMC.wt 3-Nov-11 $2.75 1 1.88 $2.45 -$0.30 44.6 $1.30 $1.02 Overvalued
Blue Pearl Mining BLEFF.pk T.BLE   T.BLE.wt.A 27-Oct-11 $9.00 1 2.21 $9.16 $0.16 55.9 $4.15 $4.82 Undervalued
Bema Gold Corp BGO T.BGO   T.BGO.wt.A 8-Sep-11 $10.00 1 3.07 $7.21 -$2.79 21.8 $2.35 $1.08 Very Overvalued
Coalcorp Mining CCJFF.pk T.CCJ   T.CCJ.wt.A 17-Aug-11 $1.20 1 3.37 $0.64 -$0.56 63.1 $0.19 $0.25 Undervalued
Goldcorp GG T.G GG.wt T.G.wt.G 9-Jun-11 $30.75 1 1.96 $32.99 $2.24 23.4 $16.83 $10.53 Overvalued
Ivanhoe Energy
IVAN.pk T.IE   T.IE.wt 15-May-11 $2.93 1 2.80 $1.96 -$0.97 59.7 $0.70 $0.82 Undervalued
European Minerals Corp EPMCF.PK. T.EPM   T.EPM.wt.b 21-Mar-11 $1.55 1 2.74 $1.07 -$0.48 20.6 $0.39 $0.12 Very Overvalued
Denison Mines  (3) DMLCF.pk T.DML   T.DML.wt.A 1-Mar-11 $30.00 1 1.91 $44.44 $14.44 55.4 $23.29 $26.29 Undervalued
U S Gold UXG T.UXG   T.UXG.wt 22-Feb-11 $11.75 1 3.12 $5.93 -$5.82 37.0 $1.90 $0.85 Very Overvalued
Silver Wheaton SLW T.SLW SLWBF.pk T.SLW.wt.b 22-Dec-10 $10.00 1 1.97 $12.62 $2.62 26.1 $6.40 $4.97 Overvalued
Ascendant Copper Corp ASCPF.pk T.ACX   T.ACX.wt 21-Nov-10 $2.50 1 4.00 $0.40 -$2.10 132.0 $0.10 $0.24 Bargain
Avnel Gold Mining   T.AVK   T.AVK.wt 30-Jun-10 $1.06 1 1.78 $0.98 -$0.08 58.7 $0.55 $0.43 Overvalued
European Minerals Corp EPMCF.PK. T.EPM EPMJF.pk T.EPM.wt.a 11-Apr-10 $1.20 1 2.28 $1.07 -$0.13 20.6 $0.47 $0.18 Very Overvalued
I M A Exploration IMR V.IMR   V.IMR.wt.A 21-Mar-10 $3.80 1 9.20 $0.92 -$2.88 61.0 $0.10 $0.10 Fair Value
Northern Orion Resources NTO T.NNO  NTOWF.pk T.NNO.wt.a 17-Feb-10 $6.00 1 3.50 $4.86 -$1.14 35.1 $1.39 $1.06 Overvalued
RailPower   T.P   T.P.wt 12-Feb-10 $1.25 1 3.03 $1.15 -$0.10 60.4 $0.38 $0.48 Undervalued
Metallica Resources MRB T.MR   T.MR.wt.a 12-Dec-09 $5.50 1 ? $5.48 ? 22.9 ? $1.19 not trading yet
Silver Wheaton
SLW T.SLW SLWAF.pk T.SLW.wt.a 30-Nov-09 $5.50 5 1.59 $12.62 $1.42 26.1 $1.59 $1.57 Fair Value
Denison Mines  (3) DMLCF.pk T.DML   T.DML.wt 24-Nov-09 $15.00 1 1.48 $44.44 $29.44 55.4 $30.10 $32.28 Fair Value
Bankers Petroleum BNKFF.pk T.BNK   T.BNK.wt 10-Nov-09 $0.95 1 2.03 $0.61 -$0.34 64.8 $0.30 $0.20 Overvalued
T O R R Canada Inc TORFF.pk T.TOR   T.TOR.wt 2-Nov-09 $0.65 1 2.23 $0.89 $0.24 79.6 $0.40 $0.54 Undervalued
I M A Exploration IMR V.IMR   V.IMR.wt 14-Sep-09 $3.45 1 6.57 $0.92 -$2.53 61.0 $0.14 $0.08 Overvalued
Silver Wheaton SLW T.SLW SLWWF.pk T.SLW.wt 5-Aug-09 $4.00 5 1.39 $12.62 $1.72 26.1 $1.82 $1.82 Fair Value
Erdene Gold ERDGF.pk T.ERD   T.ERD.wt 15-Jun-09 $1.60 1 4.00 $0.80 -$0.80 55.9 $0.20 $0.13 Overvalued
Baja Mining Corp BAJFF.pk V.BAJ   T.BAJ.wt 13-Apr-09 $1.25 1 1.68 $1.34 $0.09 41.7 $0.80 $0.34 Very Overvalued
Eastern Platinum Limited ELRFF.pk T.ELR   T.ELR.wt.A 28-Mar-09 $1.80 1 2.83 $1.84 $0.04 40.8 $0.65 $0.53 Overvalued
Metallic Ventures Gold MTLVF.pk T.MVG   T.MVG.wt 17-Mar-09 $10.00 1 4.15 $1.99 -$8.01 59.1 $0.48 $0.05 Very Overvalued
S M T C Mfg Corp of Can SMTX T.SMX   T.SMX.wt 4-Mar-09 $9.25 1 53.33 $3.20 -$6.05 61.8 $0.06 $0.31 Bargain
Coalcorp Mining CCJFF.pk T.CCJ   T.CCJ.wt 25-Feb-09 $0.80 1 2.67 $0.64 -$0.16 63.1 $0.24 $0.20 Overvalued
Envoy Communs Group Inc ECGI T.ECG   T.ECG.wt 20-Feb-09 $9.00 5 19.10 $3.82 -$5.18 120.2 $0.04 $0.35 Bargain
Breakwater Resources BWLRF.ob T.BWR BWLWF.pk T.BWR.wt 28-Jan-09 $1.00 1 1.71 $1.95 $0.95 56.6 $1.14 $1.14 Fair Value
Explorations Minieres du Nord   T.MDN   T.MDN.wt 14-Jan-09 $1.00 1 1.94 $1.55 $0.55 103.7 $0.80 $1.01 Undervalued
Urbana   T.URB   T.URB.wt 11-Jan-09 $3.75 1 5.42 $3.74 -$0.01 6.9 0.69 $0.37 Overvalued
European Minerals Corp EPMCF.PK. T.EPM EPMWF.pk T.EPM.wt 23-Dec-08 $1.41 1 2.49 $1.07 -$0.07 20.6 $0.43 $0.05 Very Overvalued
Metallica Resources MRB T.MR  MRBWF.pk T.MR.wt 11-Dec-08 $3.10 1 2.12 $5.48 $2.38 22.9 $2.59 $2.66 Fair Value
Glencairn Gold Corp GLE T.GGG GLECW.pk T.GGG.wt 26-Nov-08 $1.25 1 4.00 $0.64 -$0.61 35.7 $0.16 $0.02 Very Overvalued
Yamana Gold      AUY T.YRI AUYWF.pk T.YRI.wt.A 20-Nov-08 $2.50 1.66667 1.29 $17.46 $7.98 23.5 $8.13 $9.11 Undervalued
Southern Era Diamonds SDMFF.pk T.SDM SDMWF.pk T.SDM.wt 11-Nov-08 $2.00 1 3.63 $0.29 -$1.71 81.5 $0.08 $0.01 Very Overvalued
Endeavour Mining Cap EDVMF.pk T.EDV EDVWF.pk T.EDV.wt 10-Nov-08 $5.50 1 1.98 $8.90 $3.40 37.9 $4.50 $4.08 Fair Value
Metanor Resources MEAOF.pk V.MTO   V.MTO.wt 10-Nov-08 $0.55 1 ? $1.32 ? 89.1 ? $0.92 not trading yet
Nevsun Resources NSU T.NSU   T.NSU.wt.a 25-Oct-08 $3.00 1 2.95 $2.77 -$0.23 23.7 $0.94 $0.36 Very Overvalued
NovaGold Resources NG T.NG NGRWF.pk T.NG.wt 1-Oct-08 $7.00 1 1.53 $19.35 $12.35 9.6 $12.64 $12.91 Fair Value
Uranium Participation URPTF.pk T.U URPZF.pk T.U.wt.a 15-Sep-08 $12.00 1 3.09 $14.35 $2.35 25.1 $4.65 $3.75 Overvalued
Rio Narcea Gold RNO T.RNG RNWTF.pk T.RNG.wt 11-Sep-08 $5.00 1 6.34 $3.68 -$1.32 51.9 $0.58 $0.67 Undervalued
First Capital Realty
FCRGF.pk T.FCR   T.FRC.wt 31-Aug-08 $11.80 1 1.82 $28.00 $16.20 62.2 $15.37 $17.81 Undervalued
Neo Material Tchnlgys Inc NEMFF.pk T.NEM   T.NEM.wt 31-Aug-08 $2.50 1 2.50 $3.12 $0.62 33.9 $1.25 $0.97 Overvalued
Australian Solomons Gold   T.SGA   T.SGA.wt 28-Aug-08 $1.71 1 3.00 $1.65 -$0.06 57.8 $0.55 $0.49 Overvalued
Iamgold IMG T.IMG   T.IMG.wt 12-Aug-08 $3.75 2.381 2.88 $10.41 $0.62 29.3 $1.52 $2.91 Bargain
Khan Resources KHRIF.pk T.KRI   T.KRI.wt 3-Aug-08 $1.90 1 1.48 $4.45 $2.55 53.7 $3.00 $2.75 Fair Value
Nevsun Resources NSU T.NSU NSUWF.pk T.NSU.wt 29-Jun-08 $3.25 1 3.26 $2.77 -$0.48 23.7 $0.85 $0.21 Very Overvalued
Northern Orion Resources NTO T.NNO NTWWF.pk T.NNO.wt 29-May-08 $2.00 1 1.62 $4.86 $2.86 35.1 $3.00 $2.99 Fair Value
International Minerals Corp IMZLF.pk T.IMZ   T.IMZ.wt 19-May-08 $6.88 1 8.14 $5.78 -$1.10 18.5 $0.71 $0.23 Very Overvalued
Minco Silver MISVF.pk T.MSV   T.MSV.wt 18-May-08 $3.45 1 4.22 $3.25 -$0.20 33.1 $0.77 $0.49 Overvalued
Eastern Platinum Limited ELRFF.pk T.ELR   T.ELR.wt 25-Apr-08 $2.00 1 1.84 $1.84 -$0.16 40.8 $1.00 $0.31 Very Overvalued
Strait Gold Corp   V.SRD   V.SRD.wt 25-Apr-08 $0.30 1 1.88 $0.47 $0.17 41.0 $0.25 $0.20 Overvalued
Skye Resources SKRZF.pk T.SKR   T.SKR.wt 13-Mar-08 $12.36 1 4.60 $12.43 $0.07 24.6 $2.70 $2.27 Overvalued
New Gold Inc. NGD T.NGD   T.NGD.wt 29-Feb-08 $12.00 1 10.01 $9.01 -$2.99 28.9 $0.90 $0.38 Very Overvalued
Silverwing Energy Inc SVWGF.pk T.SVW SVRWF.pk T.SVW.wt 22-Feb-08 $2.25 1 4.43 $0.62 -$1.63 134.6 $0.14 $0.14 Fair Value
Pan American Silver PAAS T.PAA PAAWF.pk T.PAA.wt 20-Feb-08 $12.00 1 1.48 $36.08 $24.08 29.2 $24.42 $24.69 Fair Value
NovaGold Resources NG T.NG   T.NG.wt.A 7-Jan-08 $12.10 1 2.28 $19.35 $7.25 9.6 $8.48 $7.80 Fair Value
Jaguar Mining
JAGNF.pk T.JAG   T.JAG.wt 31-Dec-07 $4.50 1 2.60 $6.75 $2.25 32.9 $2.60 $2.51 Fair Value
Mesa Uranium Corp MSAUF.pk V.MZU   V.MZU.wt 21-Dec-07 $0.75 1 2.60 $0.52 -$0.23 87.6 $0.20 $0.11 Overvalued
Yellow Pages Income Fund YLWPF.pk T.YLO-UN   T.YLO.wt 14-Dec-07 $17.50 1 137.10 $13.71 -$3.79 17.6 $0.10 $0.14 Undervalued
Tiomin Resources TMIRF.pk T.TIO   T.TIO.wt 7-Dec-07 $0.37 1 4.50 $0.09 -$0.28 130.9 $0.02 $0.01 Very Overvalued
Kinross KGC T.K KRSGF.pk T.K.wt 5-Dec-07 $15.00 3 5.22 $16.28 $0.43 25.9 $1.04 $0.86 Overvalued
Anico Eagle
AEM T.AEM AEMLW T.AEM.wt.u 14-Nov-07 $22.33 1 1.76 $47.60 $25.27 25.1 $27.04 $26.13 Fair Value
Endeavour Silver Corp EDRGF.pk T.EDR EDWGF.pk T.EDR.wt 24-Oct-07 $5.25 1 4.33 $5.63 $0.38 44.3 $1.30 $1.11 Overvalued
Bema Gold Corp BGO T.BGO BMGDF.pk T.BGO.wt 22-Oct-07 $1.90 1 1.34 $7.21 $5.31 21.8 $5.38 $5.38 Fair Value
Titan Uranium
TUEFF.pk V.TUE   V.TUE.wt.A 21-Oct-07 $1.35 1 1.85 $3.00 $1.65 72.8 $1.62 $1.75 Fair Value
Palmarejo Silver & Gold PJOFF.pk V.PJO   V.PJO.wt 19-Oct-07 $12.50 1 21.98 $9.45 -$3.05 30.8 $0.43 $0.26 Overvalued
Medical Intelligence Tech   V.MIZ   V.MIZ.wt 28-Sep-07 $0.80 1 5.00 $0.80 $0.00 70.2 $0.16 $0.19 Undervalued
Welton Energy WLEYF.pk T.WLT   T.WLT.wt 4-Aug-07 $1.75 1 11.75 $0.94 -$0.81 41.2 $0.08 $0.00 Very Overvalued
Colibri Resource Corp CRUCF.pk V.CBI   V.CBI.wt 28-Jul-07 $0.30 2 1.73 $0.52 $0.11 193.0 $0.15 $0.17 Undervalued
Spur Ventures SPVEF.pk T.SVU   T.SVU.wt 28-Jul-07 $2.00 1 5.67 $0.51 -$1.49 79.5 $0.09 $0.00 Very Overvalued
Newstrike Resource   V.NR   V.NR.wt 25-Jul-07 $0.60 1 6.67 $0.40 -$0.20 42.7 $0.06 $0.01 Very Overvalued
Pacific Stratus Energy PSELF.pk T.PSE   T.PSE.wt 20-Jul-07 $0.30 1 1.54 $7.93 $7.63 24.0 $5.15 $7.64 Undervalued
Peregrine Diamonds   T.PGD   T.PGD.wt 16-Jul-07 $7.00 1 13.27 $1.99 -$5.01 95.7 $0.15 $0.02 Very Overvalued
Canadian General Inv. Ltd     (4) CGRIF T.CGI   T.CGI.wt 30-Jun-07 $2.62 1 1.22 $27.17 $24.55 12.8 $22.26 $24.60 Undervalued
Silverstone Corporation SVRCF.pk V.SST   V.SST.wt 7-Jun-07 $1.80 1 8.25 $1.65 -$0.15 45.3 $0.20 $0.13 Overvalued
Aspire Capital APIRF.PK C.CALS   C.CALS.wt.b 18-May-07 $0.25 1 5.00 $0.05 -$0.20 175.4 $0.01 $0.00 Very Overvalued
Las Vegas From Home.com LVFHF.ob V.LVH   V.LVH.wt 13-May-07 $1.00 1 15.00 $0.30 -$0.70 80.3 $0.02 $0.00 Very Overvalued
Uranium Participation URPTF.pk T.U URPTF.pk T.U.wt 10-May-07 $6.25 1 1.78 $14.35 $8.10 25.1 $8.05 $8.18 Fair Value
Petrolifera Petroleum Ltd
PRFPF.pk T.PDP   T.PDP.wt 3-May-07 $3.00 1 1.20 $18.95 $15.95 39.3 $15.85 $15.99 Fair Value
Centrasia Mining Corp CTMHF.ob V.CTM   V.CTM.wt 28-Apr-07 $0.78 2 7.00 $0.84 $0.030 75.4 $0.06 $0.08 Undervalued
Prodtn Enhancement Group   T.WIS   T.WIS.wt 19-Apr-07 $3.00 2 10.00 $1.20 -$1.80 44.4 $0.06 $0.00 Very Overvalued
Benton Resources   V.BTC BNRWF.pk V.BTC.wt 13-Apr-07 $0.40 1 2.68 $0.67 $0.27 74.9 $0.25 $0.28 Undervalued
HMZ Metals Inc. HMZMF.pk T.HMZ   T.HMZ.wt 6-Apr-07 $0.50 1 8.00 $0.08 -$0.42 122.8 $0.010 $0.00 Very Overvalued
Tranzeo Wireless Tchnlgys TZWLF.pk T.TZT   T.TZT.wt 3-Apr-07 $2.50 1 12.30 $2.46 -$0.04 48.1 $0.20 $0.18 Overvalued
Gabriel Resources Ltd GBRRF.pk T.GBU   T.GBU.wt 31-Mar-07 $2.75 1 2.10 $5.19 $2.44 44.4 $2.47 $2.46 Fair Value
Blue Pearl Mining BLEFF.pk T.BLE BLEWF.pk T.BLE.wt 22-Mar-07 $0.70 1 1.08 $9.16 $8.46 55.9 $8.45 $8.48 Fair Value
Dejour Enterprises Ltd DJEEF.ob V.DJE   V.DJE.wt 17-Mar-07 $0.80 1 1.51 $2.59 $1.79 52.0 $1.72 $1.79 Fair Value

 

Top 10 with the highest leverage this week   

    

Yellow Pages Income Fund
S M T C Mfg Corp of Can
Palmarejo Silver & Gold
Envoy Communs Group Inc
Las Vegas From Home.com
Peregrine Diamonds
Tranzeo Wireless Tchnlgys
Welton Energy
New Gold Inc.
Prodtn Enhancement Group

                                      

Top 10 best values based on numbers

Envoy Communs Group Inc
Canadian Income Mgmt Tr
S M T C Mfg Corp of Can
Ascendant Copper Corp
Iamgold
Pacific Stratus Energy
Yellow Pages Income Fund
T O R R Canada Inc
Coalcorp Mining
Stelco Inc

Notes

(1) A total of 5,454,550 common share purchase warrants of Baffinland Iron Mines Corp. will be listed and posted for trading at the open on Wednesday, Jan. 31, 2007, under the following trading information:

(3) Stock close adjusted to reflect puchase of multiple shares.

(4) The exercise price per common share of the common share purchase warrants of Canadian General Investments Ltd. has been reduced from $4.12 to $2.62, effective as of the close on Feb. 6, 2007

 

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

Fair market value is calculated using the Binominal American version of  Black-Scholes calculations on volatility for the past month annualized.

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

 

 

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/