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               March 09 2007

                              (companies sorted by name)

    
                                     
                    1 Month      
  U. S. Canadian U. S. Canadian Expiration Exercise Warrants    Price Historic   Fair  
COMPANY NAME Symbol Stock Symbol Warrant Date Price per Leverage     of   Volatility Warrant Market Comments
  Stock Symbol Warrant Symbol   Cdn$ Share   Common Annualized Price Value  
Stelco Inc SECNF.pk T.STE SECWF.pk T.STE.wt 31-Mar-13 $11.00 1 1.74 $22.20 59.3 $12.75 $16.53 Undervalued
Canadian Income Mgmt Tr   T.CNM-UN   T.CNM.wt 28-Feb-12 $2.60 1 6.00 $0.42 128.5 $0.07 $0.29 Bargain
Mercator Minerals Ltd   T.Ml   T.ML.wt 16-Feb-12 $4.00 1 2.30 $3.10 45.9 $1.35 1.21 Fair Value
Mega Uranium   T.MGA   T.MGA.wt 12-Feb-12 $6.15 1 1.92 $5.95 89.4 $3.10 4.22 Undervalued
Baffinland Iron Mns Corp   T.BIM   T.BIM.wt 31-Jan-12 $2.75 1 3.54 $2.30 40.0 $0.65 $0.84 Undervalued
Katanga Mining KATFF.pk T.KAT   T.KAT.wt 20-Nov-11 $8.50 1 2.17 $9.99 36.7 $4.60 $4.53 Fair Value
Geovic Mining Corp GVCM.pk V.GMC GVCMW.pk V.GMC.wt 3-Nov-11 $2.75 1 1.83 $2.38 50.9 $1.30 $1.06 Overvalued
Blue Pearl Mining BLEFF.pk T.BLE   T.BLE.wt.A 27-Oct-11 $9.00 1 2.15 $9.15 70.4 $4.25 $5.52 Undervalued
Kinross KGC T.K   T.K.wt.b 7-Sep-11 $10.00 2.24871 14.19 $15.46 25.6 $2.45 $3.47 Bargain
Coalcorp Mining CCJFF.pk T.CCJ   T.CCJ.wt.A 17-Aug-11 $1.20 1 3.32 $0.63 67.0 $0.19 $0.26 Undervalued
Goldcorp GG T.G GG.wt T.G.wt.G 9-Jun-11 $30.75 1 2.30 $29.05 37.1 $12.65 $10.28 Overvalued
Ivanhoe Energy IVAN.pk T.IE   T.IE.wt 15-May-11 $2.93 1 3.40 $2.28 102.9 $0.67 $1.60 Bargain
European Minerals Corp EPMCF.PK. T.EPM   T.EPM.wt.b 21-Mar-11 $1.55 1 3.00 $1.08 67.8 $0.36 $0.50 Undervalued
Denison Mines  (1) DMLCF.pk T.DML   T.DML.wt.A 1-Mar-11 $30.00 1 1.98 $39.69 90.9 $20.00 $28.52 Undervalued
U S Gold UXG T.UXG   T.UXG.wt 22-Feb-11 $11.75 1 3.09 $4.94 59.1 $1.60 $1.31 Overvalued
Silver Wheaton SLW T.SLW SLWBF.pk T.SLW.wt.b 22-Dec-10 $10.00 1 2.12 $10.93 36.8 $5.15 $4.22 Overvalued
Ascendant Copper Corp ASCPF.pk T.ACX   T.ACX.wt 21-Nov-10 $2.50 1 3.55 $0.39 49.4 $0.11 $0.01 Very Overvalued
Avnel Gold Mining   T.AVK   T.AVK.wt 30-Jun-10 $1.06 1 1.55 $0.85 51.7 $0.55 $0.29 Overvalued
European Minerals Corp EPMCF.PK. T.EPM EPMJF.pk T.EPM.wt.a 11-Apr-10 $1.20 1 2.45 $1.08 67.8 $0.44 $0.50 Undervalued
I M A Exploration IMR V.IMR   V.IMR.wt.A 21-Mar-10 $3.80 1 8.00 $0.80 79.8 $0.10 $0.16 Bargain
VisionSky Corp   C.VSKY   C.VSKY.w 22-Feb-10 $0.65 1 21.00 $0.21 96.0 0.01 $0.08 Bargain
Northern Orion Resources NTO T.NNO  NTOWF.pk T.NNO.wt.a 17-Feb-10 $6.00 1 3.72 $4.95 47.6 $1.33 $1.51 Undervalued
RailPower   T.P   T.P.wt 12-Feb-10 $1.25 1 3.14 $0.88 59.1 $0.28 $0.29 Fair Value
Metallica Resources MRB T.MR   T.MR.wt.a 12-Dec-09 $5.50 1 ? $5.81 66.0 ? $2.75 not trading yet
Silver Wheaton SLW T.SLW SLWAF.pk T.SLW.wt.a 30-Nov-09 $5.50 5 1.66 $10.93 36.8 $1.32 $6.31 Fair Value
Denison Mines  (1) DMLCF.pk T.DML   T.DML.wt 24-Nov-09 $15.00 1 1.56 $39.69 90.9 $25.50 $24.71 Fair Value
Bankers Petroleum BNKFF.pk T.BNK   T.BNK.wt 10-Nov-09 $0.95 1 2.28 $0.57 47.2 $0.25 $0.10 Very Overvalued
T O R R Canada Inc TORFF.pk T.TOR   T.TOR.wt 2-Nov-09 $0.65 1 2.31 $0.81 71.5 $0.35 $0.44 Undervalued
I M A Exploration IMR V.IMR   V.IMR.wt 14-Sep-09 $3.45 1 5.33 $0.80 79.8 $0.15 $0.13 Overvalued
Silver Wheaton SLW T.SLW SLWWF.pk T.SLW.wt 5-Aug-09 $4.00 5 1.53 $10.93 36.8 $1.43 $7.42 Fair Value
Erdene Gold ERDGF.pk T.ERD   T.ERD.wt 15-Jun-09 $1.60 1 4.85 $0.97 77.6 $0.20 $0.33 Bargain
Baja Mining Corp BAJFF.pk V.BAJ   T.BAJ.wt 13-Apr-09 $1.25 1 1.44 $1.30 39.0 $0.90 $0.37 Very Overvalued
Eastern Platinum Limited ELRFF.pk T.ELR   T.ELR.wt.A 28-Mar-09 $1.80 1 3.03 $2.00 41.3 $0.66 $0.63 Fair Value
Metallic Ventures Gold MTLVF.pk T.MVG   T.MVG.wt 17-Mar-09 $10.00 1 3.78 $1.74 62.0 $0.46 $0.04 Very Overvalued
S M T C Mfg Corp of Can SMTX T.SMX   T.SMX.wt 4-Mar-09 $9.25 1 71.00 $3.55 49.4 $0.05 $0.20 Bargain
Coalcorp Mining CCJFF.pk T.CCJ   T.CCJ.wt 25-Feb-09 $0.80 1 2.86 $0.63 67.0 $0.22 $0.20 Fair Value
Envoy Communs Group Inc ECGI T.ECG   T.ECG.wt 20-Feb-09 $9.00 5 25.33 $3.80 26.9 $0.03 $0.02 Very Overvalued
Fralex Therapeutics Inc   V.FXI   V.FXI.wt 14-Feb-09 $4.00 1 4.00 $2.00 100.7 $0.50 $0.75 Bargain
Breakwater Resources BWLRF.ob T.BWR BWLWF.pk T.BWR.wt 28-Jan-09 $1.00 1 1.78 $2.01 47.0 $1.13 $1.15 Fair Value
Explorations Minieres du Nord   T.MDN   T.MDN.wt 14-Jan-09 $1.00 1 1.81 $1.41 128.5 $0.78 $0.98 Undervalued
Urbana   T.URB   T.URB.wt 11-Jan-09

$3.75

1 5.81 $3.60 22.1 0.62 $0.51 Overvalued
Gold Point Energy Corp   V.GPE   V.GPE.wt 29-Dec-08 $0.50 1 2.43 $0.365 60.6 $0.15 $0.09 Overvalued
European Minerals Corp EPMCF.PK. T.EPM EPMWF.pk T.EPM.wt 23-Dec-08 $1.41 1 2.45 $1.08 67.8 $0.44 $0.32 Overvalued
Metallica Resources MRB T.MR  MRBWF.pk T.MR.wt 11-Dec-08 $3.10 1 2.08 $5.81 66.0 $2.80 $3.36 Undervalued
Glencairn Gold Corp GLE T.GGG GLECW.pk T.GGG.wt 26-Nov-08 $1.25 1 4.14 $0.58 45.0 $0.14 $0.03 Very Overvalued
Yamana Gold      AUY T.YRI AUYWF.pk T.YRI.wt.A 20-Nov-08 $2.50 1.66667 1.33 $16.03 43.2 $7.25 $13.73 Undervalued
Southern Era Diamonds SDMFF.pk T.SDM SDMWF.pk T.SDM.wt 11-Nov-08 $2.00 1 3.63 $0.29 77.8 $0.08 $0.01 Very Overvalued
Endeavour Mining Cap EDVMF.pk T.EDV EDVWF.pk T.EDV.wt 10-Nov-08 $5.50 1 2.14 $8.01 45.4 $3.75 $3.40 Fair Value
Metanor Resources MEAOF.pk V.MTO   V.MTO.wt 10-Nov-08 $0.55 1 ? $1.09 122.1 ? $0.79 not trading yet
Nevsun Resources NSU T.NSU   T.NSU.wt.a 25-Oct-08 $3.00 1 2.86 $2.43 53.4 $0.85 $0.53 Overvalued
NovaGold Resources NG T.NG NGRWF.pk T.NG.wt 1-Oct-08 $7.00 1 1.52 $19.43 18.8 $12.80 $12.96 Fair Value
Uranium Participation URPTF.pk T.U URPZF.pk T.U.wt.a 15-Sep-08 $12.00 1 3.00 $14.39 30.0 $4.80 $3.94 Overvalued
Rio Narcea Gold RNO T.RNG RNWTF.pk T.RNG.wt 11-Sep-08 $5.00 1 5.16 $3.97 62.9 $0.77 $0.99 Undervalued
First Capital Realty FCRGF.pk T.FCR   T.FRC.wt 31-Aug-08 $11.80 1 1.86 $28.13 53.0 $15.15 $17.52 Undervalued
Neo Material Tchnlgys Inc NEMFF.pk T.NEM   T.NEM.wt 31-Aug-08 $2.50 1 2.60 $3.20 37.7 $1.23 $1.06 Overvalued
Australian Solomons Gold   T.SGA   T.SGA.wt 28-Aug-08 $1.71 1 3.58 $1.43 44.2 $0.40 $0.25 Overvalued
Iamgold IMG T.IMG   T.IMG.wt 12-Aug-08 $3.75 2.381 3.17 $9.05 39.0 $1.20 $5.58 Bargain
Khan Resources KHRIF.pk T.KRI   T.KRI.wt 3-Aug-08 $1.90 1 1.42 $3.94 87.8 $2.77 $2.50 Fair Value
Nevsun Resources NSU T.NSU NSUWF.pk T.NSU.wt 29-Jun-08 $3.25 1 3.08 $2.43 53.4 $0.79 $0.39 Very Overvalued
Northern Orion Resources NTO T.NNO NTWWF.pk T.NNO.wt 29-May-08 $2.00 1 1.55 $4.95 47.6 $3.20 $3.09 Fair Value
International Minerals Corp IMZLF.pk T.IMZ   T.IMZ.wt 19-May-08 $6.88 1 8.98 $5.84 16.6 $0.65 $0.21 Very Overvalued
Minco Silver MISVF.pk T.MSV   T.MSV.wt 18-May-08 $3.45 1 4.41 $2.78 68.8 $0.63 $0.67 Fair Value
Equinox Minerals   T.EQN   T.EQN.wt 6-May-08 $2.30 1 5.34 $2.03 61.7 $0.38 $0.48 Undervalued
Eastern Platinum Limited ELRFF.pk T.ELR   T.ELR.wt 25-Apr-08 $2.00 1 2.41 $2.00 41.3 $0.83 $0.39 Very Overvalued
Strait Gold Corp   V.SRD   V.SRD.wt 25-Apr-08 $0.30 1 1.92 $0.48 54.0 $0.25 $0.22 Overvalued
Skye Resources SKRZF.pk T.SKR   T.SKR.wt 13-Mar-08 $12.36 1 5.47 $12.20 31.8 $2.23 $1.77 Fair Value
New Gold Inc. NGD T.NGD   T.NGD.wt 29-Feb-08 $12.00 1 13.81 $8.70 36.8 $0.63 $0.48 Overvalued
Silverwing Energy Inc SVWGF.pk T.SVW SVRWF.pk T.SVW.wt 22-Feb-08 $2.25 1 4.54 $0.59 118.7 $0.13 $0.08 Overvalued
Pan American Silver
PAAS T.PAA PAAWF.pk T.PAA.wt 20-Feb-08 $12.00 1 1.57 $32.46 38.4 $20.70 $21.02 Fair Value
NovaGold Resources NG T.NG   T.NG.wt.A 7-Jan-08 $12.10 1 2.37 $19.43 18.8 $8.20 $7.82 Fair Value
Jaguar Mining JAGNF.pk T.JAG   T.JAG.wt 31-Dec-07 $4.50 1 3.00 $6.29 16.5 $2.10 $1.97 Fair Value
Mesa Uranium Corp MSAUF.pk V.MZU   V.MZU.wt 21-Dec-07 $0.75 1 4.25 $0.51 102.4 $0.12 $0.12 Fair Value
Yellow Pages Income Fund YLWPF.pk T.YLO-UN   T.YLO.wt 14-Dec-07 $17.50 1 168.75 $13.50 22.4 $0.08 $0.18 Bargain
Tiomin Resources TMIRF.pk T.TIO   T.TIO.wt 7-Dec-07 $0.37 1 4.50 $0.09 62.7 $0.02 $0.00 Very Overvalued
Kinross KGC T.K KRSGF.pk T.K.wt 5-Dec-07 $15.00 3 6.21 $15.46 25.6 $0.83 $1.90 Overvalued
Anico Eagle AEM T.AEM AEMLW T.AEM.wt.u 14-Nov-07 $22.33 1 1.96 $43.23 37.8 $22.04 $21.70 Fair Value
Endeavour Silver Corp EDRGF.pk T.EDR EDWGF.pk T.EDR.wt 24-Oct-07 $5.25 1 5.18 $4.92 53.8 $0.95 $0.77 Overvalued
Kinross KGC T.K   T.K.wt.a 22-Oct-07 $1.90 2.24871 6.95 $15.46 25.6 $5.00 $6.06 Bargain
Titan Uranium TUEFF.pk V.TUE   V.TUE.wt.A 21-Oct-07 $1.35 1 1.73 $2.44 115.5 $1.41 $1.36 Fair Value
Palmarejo Silver & Gold PJOFF.pk V.PJO   V.PJO.wt 19-Oct-07 $12.50 1 17.92 $9.50 4.2 $0.53 $0.00 Very Overvalued
M G M Energy   T.MGX   T.MGX.wt.b 30-Sep-07 $6.00 1 15.00 $5.25 35.3 $0.35 $0.33 Fair Value
Medical Intelligence Tech   V.MIZ   V.MIZ.wt 28-Sep-07 $0.80 1 4.25 $0.68 54.9 $0.16 0.08 Overvalued
Welton Energy WLEYF.pk T.WLT   T.WLT.wt 4-Aug-07 $1.75 1 11.57 $0.81 80.5 $0.07 $0.02 Very Overvalued
Colibri Resource Corp CRUCF.pk V.CBI   V.CBI.wt 28-Jul-07 $0.30 2 2.25 $0.45 106.8 $0.10 $0.35 Bargain
Spur Ventures SPVEF.pk T.SVU   T.SVU.wt 28-Jul-07 $2.00 1 2.45 $0.49 76.4 $0.20 $0.00 Very Overvalued
Newstrike Resource   V.NR   V.NR.wt 25-Jul-07 $0.60 1 6.67 $0.40 13.4 $0.06 $0.00 Very Overvalued
Pacific Stratus Energy PSELF.pk T.PSE   T.PSE.wt 20-Jul-07 $0.30 1 1.51 $8.30 49.1 $5.50 $8.01 Undervalued
Peregrine Diamonds   T.PGD   T.PGD.wt 16-Jul-07 $7.00 1 12.82 $2.18 89.3 $0.17 $0.01 Very Overvalued
Canadian General Inv. Ltd (2) CGRIF T.CGI   T.CGI.wt 30-Jun-07 $2.62 1 1.14 $26.18 14.8 $23.00 $23.70 Fair Value
Silverstone Corporation SVRCF.pk V.SST   V.SST.wt 7-Jun-07 $1.80 1 8.58 $1.63 47.3 $0.19 $0.10 Overvalued
Aspire Capital APIRF.PK C.CALS   C.CALS.wt.b 18-May-07 $0.25 1 5.00 $0.05 79.1 $0.01 $0.00 Very Overvalued
Las Vegas From Home.com LVFHF.ob V.LVH   V.LVH.wt 13-May-07 $1.00 1 25.00 $0.25 79.7 $0.01 $0.00 Very Overvalued
Uranium Participation URPTF.pk T.U URPTF.pk T.U.wt 10-May-07 $6.25 1 1.78 $14.39 30.0 $8.07 $8.19 Fair Value
Petrolifera Petroleum Ltd
PRFPF.pk T.PDP   T.PDP.wt 3-May-07 $3.00 1 1.22 $16.86 39.2 $13.79 $13.88 Fair Value
Centrasia Mining Corp CTMHF.ob V.CTM   V.CTM.wt 28-Apr-07 $0.78 2 9.50 $0.76 51.1 $0.04 $0.05 Overvalued
Prodtn Enhancement Group   T.WIS   T.WIS.wt 19-Apr-07 $3.00 2 27.00 $1.08 80.5 $0.02 $0.00 Very Overvalued
Benton Resources   V.BTC BNRWF.pk V.BTC.wt 13-Apr-07 $0.40 1 2.79 $0.67 88.2 $0.24 $0.27 Undervalued
HMZ Metals Inc. HMZMF.pk T.HMZ   T.HMZ.wt 6-Apr-07 $0.50 1 4.50 $0.09 110.9 $0.020 $0.00 Very Overvalued
Tranzeo Wireless Tchnlgys
TZWLF.pk T.TZT   T.TZT.wt 3-Apr-07 $2.50 1 11.25 $2.25 51.8 $0.20 $0.04 Very Overvalued
Gabriel Resources Ltd GBRRF.pk T.GBU   T.GBU.wt 31-Mar-07 $2.75 1 2.56 $4.61 55.2 $1.80 $1.87 Fair Value
Blue Pearl Mining BLEFF.pk T.BLE BLEWF.pk T.BLE.wt 22-Mar-07 $0.70 1 1.09 $9.15 70.4 $8.42 $8.45 Fair Value
Dejour Enterprises Ltd DJEEF.ob V.DJE   V.DJE.wt 17-Mar-07 $0.80 1 1.57 $2.28 83.9 $1.45 $1.48 Fair Value

 

Top 10 with the highest leverage this week   

Metallica Resources
Metanor Resources
Yellow Pages Income Fund
S M T C Mfg Corp of Can
Prodtn Enhancement Group
Envoy Communs Group Inc
Las Vegas From Home.com
VisionSky Corp
Palmarejo Silver & Gold
M G M Energy

                                        

Top 10 best values based on numbers

VisionSky Corp
Canadian Income Mgmt Tr
S M T C Mfg Corp of Can
Ivanhoe Energy
Yellow Pages Income Fund
Iamgold
Colibri Resource Corp
Erdene Gold
I M A Exploration
Fralex Therapeutics Inc

 

Notes

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

(2) 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/