(To sort click on the column headings in blue)                                                                                            

COMPANY NAME													Stocks in	1 Month
(click on the company name for	Latest		U. S.	Canadian	U. S.	Canadian	Expiration	Exercise	Exercise	Wts		Price	the money	Historic		Fair
number of warrants trading,	Insider	Warrant	Symbol	Stock	Symbol	Warrant	Date	Price	Price	per	Leverage	of	(Intrinsic	Volatility	Warrant	Market	Comments
company website and warrant PRs.)	Activity	CUSIP NO	Stock	Symbol	Warrant	Symbol		US$	Cdn$	Share		Common	Value)	Annualized	Price	Value
Agnico Eagle	T.AEM	008474 13 2	AEM	T.AEM	AEMLW	AEM.wt.u	14-Nov-07	$19.00	$20.04	1	1.64	51.9	31.86	110.4	31.66	$33.03	Fair Value
Stelco Inc	T.STE	858525 14 0	SECNF.pk	T.STE	SECWF.pk	STE.wt	31-Mar-13		$11.00	1	1.41	37.74	26.74	21.7	26.75	$29.42	Fair Value
Pan American Silver	T.PAA	697900 12 4	PAAS	T.PAA	PAAWF.pk	PAA.wt	20-Feb-08		$12.00	1	1.76	27.11	15.11	67	15.41	$15.75	Fair Value
First Capital Realty	T.FCR	35168Q 11 4	FCRGF.pk	T.FCR		FCR.wt	31-Aug-08		$11.80	1	1.92	25.89	14.09	10.7	13.49	$14.77	Fair Value
Kinross	T.K	496902 16 4	KGC	T.K		K.wt.a	22-Oct-07		$1.90	2.24871	1.42	13.75	11.85	53.7	4.3	$5.28	Undervalued
Katanga Mining	T.KAT	49373T 12 8	KATFF.pk	T.KAT		KAT.wt	20-Nov-11		$8.50	1	1.73	19.05	10.55	57.2	11	$13.57	Undervalued
Yamana Gold	T.YRI	98462Y 14 2	AUY	T.YRI	AUYWF.pk	YRI.wt.A	20-Nov-08		$2.50	1.666667	1.44	12.34	9.84	79.3	5.14	$6.02	Undervalued
Thompson Creek Metals	T.TCM	884768 11 0	BLEFF.pk	T.TCM		TCM.wt	27-Oct-11		$9.00	1	1.62	18.11	9.11	80.6	11.15	$13.70	Undervalued
Silver Wheaton	T.SLW	828336 11 5	SLW	T.SLW	SLWWF.pk	SLW.wt	5-Aug-09		$4.00	5	1.41	13.05	9.05	58.5	1.85	$1.91	Fair Value
NovaGold Resources	T.NG	66987E 11 5	NG	T.NG	NGRWF.pk	NG.wt	1-Oct-08		$7.00	1	1.76	15.75	8.75	40.3	8.97	$9.23	Fair Value
Silver Wheaton	T.SLW	828336 12 3	SLW	T.SLW	SLWAF.pk	SLW.wt.a	30-Nov-09		$5.50	5	1.6	13.05	7.55	58.5	1.63	$1.72	Fair Value
Iamgold	T.IMG	459875 11 8	IAG	T.IMG		IMG.wt	12-Aug-08		$3.75	2.381	4.13	8.26	4.51	70.4	0.84	$2.09	Bargain
Northern Orion Resources	T.NNO	665575 11 4	NTO	T.NNO	NTWWF.pk	NNO.wt	29-May-08		$2.00	1	1.47	6.22	4.22	105.8	4.22	$4.51	Fair Value
Kinross	T.K	51818R 11 3	KGC	T.K		K.wt.b	7-Sep-11		$10.00	2.24871	2.75	13.75	3.75	53.7	2.22	$3.50	Bargain
NovaGold Resources	T.NG	66987E 13 1	NG	T.NG		NG.wt.A	7-Jan-08		$12.10	1	3.62	15.75	3.65	40.3	4.35	$4.32	Fair Value
Endeavour Mining Cap	T.EDV	G3040R 12 5	EDVMF.pk	T.EDV	EDVWF.pk	EDV.wt	10-Nov-08		$5.50	1	1.91	8.6	3.10	21.3	4.5	$3.48	Overvalued
Silver Wheaton	T.SLW	828336 13 1	SLW	T.SLW	SLWBF.pk	SLW.wt.b	22-Dec-10		$10.00	1	2.01	13.05	3.05	58.5	6.5	$6.99	Fair Value
Mercator Minerals Ltd	T.ML	587582 11 5		T.ML		ML.wt	16-Feb-12		$4.00	1	1.79	6.55	2.55	92.9	3.65	$5.16	Undervalued
Neo Material Tchnlgys Inc	T.NEM	64045Y 11 6	NEMFF.pk	T.NEM		NEM.wt	31-Aug-08		$2.50	1	2.19	4.47	1.97	50.2	2.04	$2.22	Fair Value
Breakwater Resources	T.BWR	106902 15 8	BWLRF.ob	T.BWR	BWLWF.pk	BWR.wt	28-Jan-09		$1.00	1	1.62	2.57	1.57	65.8	1.59	$1.71	Fair Value
Equinox Minerals	T.EQN	29445L 11 3		T.EQN		EQN.wt	6-May-08		$2.30	1	2.57	3.6	1.30	74.8	1.4	$1.67	Undervalued
Metallica Resources	T.MR	59125J 12 0	MRB	T.MR	MRBWF.pk	MR.wt	11-Dec-08		$3.10	1	2.74	4.36	1.26	45.7	1.59	$1.74	Fair Value
Salazar Resources	V.SRL	794007 11 2		V.SRL		SRL.wt	19-Mar-09		$1.50	1	2.26	2.74	1.24	134.1	1.21	$1.98	Bargain
Baja Mining Corp	T.BAJ	05709R 11 1	BAJFF.pk	T.BAJ		BAJ.wt	13-Apr-09		$1.15	1	2.1	1.83	0.68	42.2	0.87	$0.85	Fair Value
Eastern Platinum Limited	T.ELR	276855 12 9	ELRFF.pk	T.ELR		ELR.wt.A	28-Mar-09		$1.80	1	3.03	2.27	0.47	63.3	0.75	$0.99	Undervalued
Rio Narcea Gold	T.RNG	766909 13 9	RNO	T.RNG	RNWTF.pk	RNG.wt	11-Sep-08		$5.00	1	5.31	5.47	0.47	7.3	1.03	$0.72	Overvalued
Eastern Platinum Limited	T.ELR	276855 11 1	ELRFF.pk	T.ELR		ELR.wt	25-Apr-08		$2.00	1	5.04	2.27	0.27	63.3	0.45	$0.67	Undervalued
Northern Orion Resources	T.NNO	665575 12 2	NTO	T.NNO	NTOWF.pk	NNO.wt.a	17-Feb-10		$6.00	1	3.77	6.22	0.22	105.8	1.65	$4.01	Bargain
M D N Inc	T.MDN	31943B 12 6		T.MDN		MDN.wt	14-Jan-09		$1.00	1	1.77	1.22	0.22	40.6	0.69	$0.39	Overvalued
M A C C's Sustainable	T.MYT.UN	55266Q 12 1		T.MYT.UN		MYT.wt.a	13-Dec-07		$8.00	1	200	8	0.00	43.2	0.04	$1.03	Bargain
European Minerals Corp	T.EPM	G3192Y 12 6	EPMCF.PK.	T.EPM	EPMWF.pk	EPM.wt.a	11-Apr-10		$1.20	1	2.11	1.2	0.00	51.8	0.57	$0.46	Overvalued
Strait Gold Corp	V.SRD	86258R 11 6		V.SRD		SRD.wt	25-Apr-08		$0.30	1	3.63	0.29	-0.01	74.2	0.08	$0.07	Overvalued
T O R R Canada Inc	T.TOR	891326 11 8	TORFF.pk	T.TOR		TOR.wt	2-Nov-09		$0.65	1	3	0.63	-0.02	58.1	0.21	$0.22	Fair Value
European Minerals Corp	T.EPM	G3192Y 11 8	EPMCF.PK.	T.EPM		EPM.wt	23-Dec-08	$1.20	$1.27	1	3	1.2	-0.07	51.8	0.4	$0.31	Overvalued
Ivory Energy	V.IV	46589L 11 3		V.IV		IV.wt	18-Jul-12		$1.00	1	2.09	0.9	-0.10	91.1	0.43	$0.65	Bargain
Khan Resources	T.KRI	496902 13 1	KHRIF.pk	T.KRI		KRI.wt	3-Aug-08		$1.90	1	2.57	1.75	-0.15	267.3	0.68	$1.47	Bargain
Titan Uranium	V.TUE	88832T 12 1	TUEFF.pk	V.TUE		TUE.wt.A	21-Oct-07		$1.35	1	6	1.2	-0.15	193.5	0.2	$0.27	Undervalued
Visible Gold Mines	V.VGD	92834E 11 6		V.VGD		VGD.wt	17-Jul-09		$0.50	1	2.5	0.3	-0.20	121.3	0.12	$0.15	Undervalued
Metrobridge Networks	V.MEB	59165A 11 2		V.MEB		MEB.wt	26-Jul-09		$0.65	1	4.56	0.41	-0.24	99.2	0.09	$0.18	Bargain
Urbana	T.URB	91707P 12 5		T.URB		URB.wt.a	12-Jul-09		$3.75	1	11.29	3.5	-0.25	93.3	0.31	$1.68	Bargain
Urbana	T.URB	91707P 11 7		T.URB		URB.wt	11-Jan-09		$3.75	1	11.67	3.5	-0.25	93.3	0.3	$1.44	Bargain
Markland AGF Precious Metals	T.MPM			T.MPM.UN		MPM.wt	10-Jul-10		$10.25	1	5	10	-0.25	26.2	2	$2.36	Undervalued
Geovic Mining Corp	V.GMC	373686 12 0	GVCM.pk	V.GMC	GVCMW.pk	GMC.wt	3-Nov-11		$2.75	1	1.96	2.49	-0.26	71.2	1.27	$1.42	Undervalued
Tiomin Resources	T.TIO	887901 17 1	TMIRF.pk	T.TIO		TIO.wt	7-Dec-07		$0.37	1	7.67	0.115	-0.26	51.4	0.015	$0.00	Very Overvalued
Gold Point Energy Corp	V.GPE	380956 17 7		V.GPE		GPE.wt	29-Dec-08		$0.50	1	6.57	0.23	-0.27	120.9	0.035	$0.09	Bargain
Copernican British Banks Fund	T.CBB	21727V 11 7		T.CBB-UN		CBB.wt	14-Jun-10		$10.00	1	24.25	9.7	-0.30	25.5	0.4	$2.23	Bargain
Medical Intelligence Tech	V.MIZ	58458F 12 7		V.MIZ		MIZ.wt	28-Sep-07		$0.80	1	11.11	0.5	-0.30	213.6	0.045	$0.15	Bargain
Rye Patch Gold	V.RPM	783727 11 8		V.RPM		RPM.wt	19-Jul-09		$0.75	1	4.1	0.41	-0.34	113.7	0.1	$0.18	Bargain
Medical Intelligence Tech	V.MIZ	58458F 13 5		V.MIZ		MIZ.wt.a	20-Oct-08		$0.85	1	7.69	0.5	-0.35	213.6	0.065	$0.36	Bargain
Olympus Pacific Minerals Inc	T.OYM	68162Q 11 1	OLYMF.PK	T.OYM		OYM.wt	31-Jul-09		$0.90	1	3.67	0.55	-0.35	112.1	0.15	$0.28	Bargain
European Minerals Corp	T.EPM	G3192Y 14 2	EPMCF.PK.	T.EPM	EPMJF.pk	EPM.wt.b	21-Mar-11		$1.55	1	2.45	1.2	-0.35	51.8	0.49	$0.44	Fair Value
Palo Duro Energy	V.PDE	69744M 11 5		V.PDE		PDE.wt	23-Mar-09		$0.50	1	1.73	0.13	-0.37	63.4	0.075	$0.01	Very Overvalued
Redcorp Ventures	T.RDV	757268 16 4		T.RDV		RDV.wt	10-Jul-09		$0.65	1	4.91	0.27	-0.38	125.9	0.055	$0.12	Bargain
Mesa Uranium Corp	V.MZU	59066W 11 4	MSAUF.pk	V.MZU		MZU.wt	21-Dec-07		$0.75	1	6	0.36	-0.39	160.2	0.06	$0.09	Bargain
Ascendant Copper Corp	T.ACX	043503 12 7	ASCPF.pk	T.ACX		ACX.wt.a	22-Jun-09		$0.65	1	2.36	0.26	-0.39	147.9	0.11	$0.15	Undervalued
Avnel Gold Mining	T.AVK	G0683R 12 3		T.AVK		AVK.wt	30-Jun-10		$1.06	1	3.25	0.65	-0.41	50.3	0.2	$0.15	Overvalued
Bordeaux Energy	V.BDO	099535 11 4	BDOXF.pk	V.BDO		BDO.wt	6-Aug-08		$0.90	1	2.37	0.485	-0.42	135.2	0.205	$0.19	Fair Value
Erdene Gold	T.ERD	29480Q 11 8	ERDGF.pk	T.ERD		ERD.wt	15-Jun-09		$1.60	1	2.29	1.17	-0.43	130.8	0.51	$0.71	Undervalued
Terrane Metals	T.TRX	88103A 11 6		V.TRX		TRX.wt	21-Jun-12		$0.85	1	2.67	0.4	-0.45	78.9	0.15	$0.20	Undervalued
Australian Solomons Gold	T.SGA	Q8271C 11 8		T.SGA		SGA.wt	28-Aug-08		$1.71	1	6.25	1.25	-0.46	71.5	0.2	$0.24	Undervalued
Bankers Petroleum	T.BNK	066286 12 1		T.BNK		BNK.wt.A	1-Mar-12		$0.90	1	2.33	0.42	-0.48	39.8	0.18	$0.08	Very Overvalued
Oilsands Canada Corp	T.OCF	678044 11 6		T.OCF		OCF.wt	31-Jul-10		$10.25	1	nt	9.74	-0.51	31.5	1.02	$2.58	Bargain
Geovic Mining Corp	V.GMC	U37397 11 1	GVCM.pk	V.GMC		GMC.wt.a	6-Mar-12		$3.00	1	2.71	2.49	-0.51	71.2	0.92	$1.42	Bargain
Bioniche Life Sciences Inc	T.BNC	09063P 12 5		T.BNC		BNC.wt	13-Mar-09		$1.40	1	3.03	0.88	-0.52	85.7	0.29	$0.28	Fair Value
Bankers Petroleum	T.BNK	066286 11 3	BNKFF.pk	T.BNK		BNK.wt	10-Nov-09		$0.95	1	3.5	0.42	-0.53	39.8	0.12	$0.02	Very Overvalued
Grande Cache Coal Corp	T.GCE	38655X 11 3		T.GCE		GCE.wt	11-Aug-08		$1.60	1	4.88	1.05	-0.55	110.7	0.215	$0.36	Bargain
Calstar Oil & Gas	C.CALS	13135U 11 2	CLGSF.pk	C.CALS		CALS.wt.b	28-Sep-07		$0.65	1	10	0.1	-0.55	224.9	0.01	$0.01	Fair Value
I C S Copper Systems Ltd	V.ICX	449664 11 9		V.ICX		ICX.wt	4-May-09		$1.30	1	3.7	0.74	-0.56	170.7	0.2	$0.52	Bargain
Energentia Resources	V.ENR	29268P 11 8		V.ENR		ENR.wt	14-Feb-09		$0.75	1	4	0.18	-0.57	101.8	0.045	$0.03	Overvalued
Dynamite Resources	V.DNR	26806Q 11 1		V.DNR		DNR.wt	17-Aug-09		$1.00	1	16.4	0.41	-0.59	122.9	0.025	$0.20	Bargain
Oromonte	V.ORR	687083 11 3	ORMOF.PK	V.ORR		ORR.wt	17-Nov-08		$0.75	1	1.65	0.165	-0.59	142.5	0.1	$0.05	Very Overvalued
Skye Resources	T.SKR	83081N 11 5	SKRZF.pk	T.SKR		SKR.wt	13-Mar-08		$12.36	1	6.32	11.69	-0.67	92.3	1.85	$2.90	Bargain
TSO3 Inc	T.TOS	873015 13 5		T.TOS		TOS.wt	9-Mar-09		$3.00	1	3.04	2.25	-0.75	45.4	0.74	$0.32	Very Overvalued
Stornoway Diamonds	T.SWY	86222Q 12 9	SWYDF.PK	T.SWY		SWY.wt	12-Apr-09		$1.50	1	3.7	0.74	-0.76	65.6	0.2	$0.11	Overvalued
Blue Sky Uranium	V.BSK	096049 11 9		V.BSK		BSK.wt	23-Mar-09		$1.30	1	3.47	0.52	-0.78	117.7	0.15	$0.20	Undervalued
Fortune Minerals	T.FT	34967D 13 5	FTMDF.PK	T.FT		FT.wt	26-Jul-09		$3.75	1	6.49	2.92	-0.83	59.9	0.45	$0.85	Bargain
RailPower	T.P	750758 11 2		T.P		P.wt	12-Feb-10		$1.25	1	3.5	0.385	-0.87	41	0.11	$0.01	Very Overvalued
Great Basin	T.GBG	45107L 11 8	GBN	T.GBG		GBG.wt	17-Apr-09		$3.50	1	4.14	2.61	-0.89	103.5	0.63	$1.22	Bargain
Ivanhoe Energy	T.IE	G5221G 11 7	IVAN.pk	T.IE		IE.wt	15-May-11		$2.93	1	2.89	2.02	-0.91	33.7	0.7	$0.41	Overvalued
Peak Gold	V.PIK	70468J 11 4		V.PIK		PIK.wt	3-Apr-12		$1.50	1	2.35	0.54	-0.96	84.4	0.23	$0.27	Undervalued
Stingray Resources	T.SRY	860838 11 9	SGYRF.PK	T.SRY		SRY.wt	24-Apr-09		$1.80	1	7.62	0.8	-1.00	112.3	0.105	$0.28	Bargain
Futura Loyalty Group	V.FUT	373686 11 2		V.FUT		FUT.wt	1-Jan-08		$1.10	1	8.5	0.085	-1.02	84.4	0.01	$0.00	Very Overvalued
Endeavour Silver Corp	T.EDR	29258Y 11 1	EDRGF.pk	T.EDR	EDWGF.pk	EDR.wt	24-Oct-07		$5.25	1	12.79	4.22	-1.03	82	0.33	$0.49	Undervalued
Glencairn Gold Corp	T.GGG	379462 11 2	GLE	T.GGG	GLECW.pk	GGG.wt	26-Nov-08		$1.25	1	4.86	0.17	-1.08	111.7	0.035	$0.02	Overvalued
International Minerals Corp	T.IMZ	460061 12 0	IMZLF.pk	T.IMZ		IMZ.wt	19-May-08		$6.88	1	11.5	5.75	-1.13	28.8	0.5	$0.34	Overvalued
International Nickel	T.INV	465790 11 1		T.INV		INV.wt	18-Nov-08		$2.25	1	13.5	1.08	-1.17	108.6	0.08	$0.34	Bargain
Focused Global Trends Fund	T.FTF	34416R 11 5		T.FTF.UN		FTF.wt	30-Jul-10		$10.25	1	30.17	9.05	-1.20	80.3	0.3	$4.77	Bargain