Get Adobe Flash player

Providing internationally focused gold investors with free
news and ideas on how to invest and speculate safely and proactively.

          (please visit our sponsors as money is donated to help Kiva

          Canadian Warrants has now helped out 84 businesses thanks to all of you!

If you find this site informative please donate to keep this site free by going here as every  donation helps us keep up with hosting costs. Thanks to all that have donated!


Live Charts:
Gold

Silver
Platinum
Palladium
 

Warrant Sheets for Companies as of December 10th, 2010

Go here for reduced version for mobile phones

Sign Up For Alerts to

        New Warrants trading.

Good sites for US warrants are:

Amex Stock Warrants

NYSE Euronext Stock Warrants

Nasdaq Stock Warrants W

Nasdaq Stock Warrants Z

OTCBB Stock Warrants W

OTCBB Stock Warrants Z

thanks to

http://www.equitywatcher.com/

 Our Sponsors

Calculators

Black-Scholes analysis (no dividends)

Black-Scholes analysis (with dividends)

Warrants binomial model calculator Small Pop Up Calculator

PDF download of Warrants             Stocks in                  1 Month          
Valuing Warrants Companies with    Canadian Expiration   Canadian the money   Canadian     Canadian     Canadian Historic   Canadian   Fair  
  Trading Warrants   Warrant Date   Warrant (Intrinsic   Warrant Leverage   Warrant Warrant   Warrant Volatility   Warrant Warrant Market Comments
      Symbol     Symbol Value)   Symbol     Symbol Price   Symbol Annualized   Symbol Price Value  
Expiration Date Astral Mining Corp   PTM.WT 16-Dec-10   AEM.WT.U 37.99   OGE.WT 2016   XMF.WT.A 0.005   XMF.WT.A 309.7%   RF.WT 0.02 $0.88 Bargain
The last day the warrants  Aberdeen International Inc   CRP.WT 21-Dec-10   SLW.WT.B 29.37   CRP.WT 1534   XMF.WT 0.005   XMF.WT 309.7%   XMF.WT.A 0.005 $0.19 Bargain
can be exercised. If ALLBANC SPLIT CORP...   SLW.WT.B 22-Dec-10   SLW.WT.U 19.37   RF.WT 1055   FEI.WT 0.005   VZX.WT 283.4%   GMF.WT 0.06 $1.30 Bargain
warrants aren't being  Air Canada   SCP.WT 31-Dec-10   CWB.WT 13.44   EDV.WT.C 1033.62   CCJ.WT 0.005   EMC.WT 275.7%   TYF.WT 0.015 $0.26 Bargain
exercised then they Air Canada   OGE.WT 31-Dec-10   FR.WT.B 9.23   HAP.WT 902   CCJ.WT.A 0.005   NQ.WT 193.7%   XYM.WT 0.065 $1.03 Bargain
must be sold the day  Andina Minerals Inc   PLS.WT 08-Jan-11   WTN.WT 8.35   TYF.WT 603.33   CRP.WT 0.005   GLD.WT 184.9%   CNM.WT 0.025 $0.27 Bargain
before the expiry date. Agnico-Eagle   SBN.WT.A 17-Jan-11   CSI.WT 7.56   TBP.WT 275   OGE.WT 0.005   REC.WT 181.5%   PLS.WT 0.02 $0.16 Bargain
The longer the time to  Ainsworth Lumber   WFS.WT.A 17-Jan-11   EIF.WT 7.3   GMF.WT 198.33   OSU.WT.B 0.005   FEI.WT.A 175.2%   OCB.WT 0.08 $0.63 Bargain
expiry the more ARISE Technologies Corp.   CMP.WT.A 25-Jan-11   DPM.WT.A 6.67   XYM.WT 174.62   HAP.WT 0.01   FEI.WT 175.2%   EMC.WT 0.02 $0.15 Bargain
valuable the warrants. Avalon Rare Metals Inc   HAP.WT 31-Jan-11   BWR.WT.A 5.54   OCB.WT 148.75   CCJ.WT.B 0.01   WTN.WT 144.9%   HCF.WT 0.12 $0.77 Bargain
  Banro Corp   CCJ.WT 08-Feb-11   MFL.WT 5.36   OBF.WT 142.5   TYF.WT 0.015   PLS.WT 144.7%   FSS.WT 0.11 $0.63 Bargain
Leverage Bennett Environmental...   CSI.WT 13-Feb-11   BNK.WT.A 4.43   COX.WT 113.13   RF.WT 0.02   CEK.WT 134.7%   CIQ.WT 0.11 $0.56 Bargain
The leverage of a warrant Baffinland Iron Mns Corp   MID.WT 15-Feb-11   TCM.WT 4.13   CIQ.WT 108.36   PLS.WT 0.02   PAU.WT 127.4%   NQ.WT 0.225 $0.87 Bargain
is a measure of how much Bankers Petroleum   UXG.WT 22-Feb-11   EDR.WT 3.3   HCF.WT 98.33   EMC.WT 0.02   TXG.WT 120.1%   FRN.WT 0.05 $0.18 Bargain
you can increase your Brigus Gold Corp.   TCP.WT 28-Feb-11   CKG.WT 3.05   CTF.WT 92.91   REC.WT 0.02   FRN.WT 115.7%   OBF.WT 0.08 $0.27 Bargain
exposure to a share if Brick Group   XMF.WT 28-Feb-11   ML.WT.A 2.76   FSS.WT 90.36   FEI.WT.A 0.02   ECU.WT 111.1%   NEW.WT 1.06 $3.37 Bargain
you bought warrants BNS Split Corp II   YCM.WT 28-Feb-11   CMP.WT.A 2.75   SBN.WT.A 87.8   GMC.WT 0.02   CNM.WT 110.1%   ABK.WT 1.65 $4.83 Bargain
instead of making a Breakwater Resources   DML.WT.A 01-Mar-11   TAO.WT 2.15   PLS.WT 87.50   URB.WT.B 0.02   URZ.WT 108.9%   VZX.WT 0.025 $0.07 Bargain
direct investment. It is  Coalcorp Mining   FR.WT.B 05-Mar-11   PDL.WT.A 2.08   OSU.WT.B 63   CNM.WT 0.025   VST.WT 107.6%   YNG.WT 0.075 $0.19 Bargain
calculated dividing the  Caspian Energy   UTC.WT 21-Mar-11   MAI.WT 1.85   URB.WT.B 62.5   VZX.WT 0.025   OSU.WT.B 105.5%   REC.WT 0.02 $0.05 Bargain
current share price by CANADIAN HIGH INCOME...   OSU.WT.B 21-Mar-11   BRK.WT 1.73   XMF.WT.A 60   RML.WT 0.025   YNG.WT 105.3%   TXG.WT 0.35 $0.77 Bargain
the current price of the  Chesapeake Gold   NEW.WT 31-Mar-11   FNV.WT 1.64   XMF.WT 60   CMT.WT 0.025   LRT.WT 103.6%   LRT.WT 0.095 $0.20 Bargain
warrant. C M P Gold Trust   MSP.WT 31-Mar-11   AC.WT 1.6   UTC.WT 58.39   KAT.WT 0.025   MGA.WT.B 100.7%   CTF.WT 0.055 $0.11 Bargain
  Compton Petroleum Corp.   EIF.WT 07-Apr-11   AC.WT 1.6   UXG.WT 51.14   CEK.WT 0.03   MGA.WT.A 100.7%   HBB.WT 0.41 $0.85 Bargain
Intrinsic Value Canadian Income Mgmt Tr   CIQ.WT 15-Apr-11   G.WT.G 1.5   KAT.WT 50   TBP.WT 0.03   MGA.WT 100.7%   GLW.WT 0.415 $0.81 Bargain
The difference between  Coxe Commodity Strategy Fund   HBB.WT 15-Apr-11   FGX.WT.B 1.3   GMC.WT 47.5   GMC.WT.B 0.03   MAI.WT 98.4%   PNP.WT.A 0.52 $0.98 Bargain
the exercise price and Claude Resources   TRX.WT.A 16-Apr-11   NGD.WT.C 1.17   MSP.WT 45.04   EDV.WT.C 0.03   CLQ.WT 93.4%   TCP.WT 0.25 $0.47 Bargain
the actual trading price  Ceres Global Ag Corp   TYF.WT 29-Apr-11   SUE.WT 1.07   CNM.WT 43.2   WFS.WT.A 0.035   USA.WT 93.0%   URZ.WT 1 $1.84 Bargain
of the common stock. Colossus Minerals   TBP.WT 29-Apr-11   NEW.WT 0.97   TCP.WT 41   FRN.WT 0.05   MND.WT 92.4%   FEI.WT.A 0.02 $0.04 Bargain
Once the common has  Citadel Income Fund   NOM.WT 30-Apr-11   BAA.WT 0.88   NEW.WT 40.13   DML.WT.A 0.05   MGT.WT.U 89.6%   UTC.WT 0.33 $0.59 Bargain
gone over the exercise Canadian Western Bank   IE.WT 15-May-11   RTU.WT 0.65   ABK.WT 38.05   CTF.WT 0.055   ROZ.WT 88.8%   MND.WT 0.09 $0.16 Bargain
price the warrants are  CAZA GOLD CORP COM   CEK.WT 28-May-11   BPV.WT 0.62   WFS.WT.A 33.71   ZAZ.WT 0.055   AVL.WT 85.0%   GAA.WT 1.15 $1.98 Bargain
said to be 'in the money'. Denison Mines   OCB.WT 31-May-11   TRX.WT 0.62   PNP.WT 32.82   GMF.WT 0.06   ZAZ.WT 83.1%   PNP.WT 0.11 $0.19 Bargain
  Dalradian Resources Inc   COX.WT 31-May-11   HBB.WT 0.55   GMC.WT.B 31.67   XYM.WT 0.065   EDR.WT 82.1%   CLQ.WT 0.44 $0.66 Undervalued
Volatility Dundee Precious Metals   VST.WT 05-Jun-11   USA.WT 0.53   HBB.WT 30.61   APV.WT 0.07   DML.WT.A 81.3%   MGA.WT.B 0.465 $0.68 Undervalued
The higher the volatility  ECU Silver Mining Inc.    ABK.WT 06-Jun-11   FGX.WT.C 0.52   MID.WT 26.63   PGM.WT 0.07   PNP.WT.A 78.5%   XMF.WT 0.005 $0.01 Undervalued
rating the higher the price Endeavour Silver Corp.   RTU.WT 08-Jun-11   CLQ.WT 0.49   FEI.WT 26   YNG.WT 0.075   PNP.WT 78.5%   MID.WT 0.38 $0.55 Undervalued
of the warrant will be. Endeavour Financial   G.WT.G 09-Jun-11   PTM.WT 0.47   SCP.WT 24.39   GMC.WT.A 0.075   PNP.WT.B 78.5%   GAA.WT 1.15 $1.65 Undervalued
A measure of actual  Exchange Income   FEI.WT 20-Jun-11   URZ.WT 0.44   DML.WT.A 23.19   YCM.WT.A 0.075   RML.WT 77.6%   MB.WT 0.27 $0.39 Undervalued
stock price changes over  EMC Metals   FSS.WT 30-Jun-11   BIM.WT.A 0.44   SCI.WT 18.44   OCB.WT 0.08   SUE.WT 75.0%   FGX.WT.B 2.16 $3.06 Undervalued
a specific period of time.  First Capital Realty...   OBF.WT 30-Jun-11   AVL.WT 0.43   TRX.WT.A 18.38   OBF.WT 0.08   AA.WT 74.8%   BIM.WT.A 0.43 $0.61 Undervalued
Historical volatility is  Fortress Energy Inc   BSC.WT 07-Jul-11   FT.WT.A 0.43   CCJ.WT 18   TRX.WT.A 0.08   GCM.WT 74.8%   MAI.WT 1.83 $2.53 Undervalued
calculated by using the  Faircourt Gold Income   FGX.WT.C 29-Jul-11   NQ.WT 0.40   CCJ.WT.A 18   COX.WT 0.08   ST.WT 72.2%   SCI.WT 0.385 $0.53 Undervalued
standard deviation of an Franco-Nevada   DNA.WT 29-Jul-11   EDV.WT.A 0.39   CMT.WT 17.4   RED.WT 0.08   WFS.WT.A 69.9%   UXG.WT 0.14 $0.19 Undervalued
underlying stock price. First Majestic Silver Corp   SCI.WT 04-Aug-11   MID.WT 0.37   EMC.WT 17   NGD.WT.B 0.085   FT.WT.A 69.2%   ECU.WT 0.66 $0.89 Undervalued
  FERONIA INC COM   EDV.WT.C 07-Aug-11   TXG.WT 0.33   XRG.WT 16.92   MND.WT 0.09   GMC.WT 68.7%   PDL.WT.B 1.04 $1.38 Undervalued
In the Money FRONTIER RARE EARTH...   EMC.WT 15-Aug-11   GLD.WT 0.32   YCM.WT.A 16.53   LRT.WT 0.095   GMC.WT.A 68.7%   PNP.WT.B 1.4 $1.86 Undervalued
When the price of the  FRONT STREET STRATEGIC...   GPD.WT 15-Aug-11   NOM.WT 0.32   RTU.WT 15.99   BIM.WT 0.1   GMC.WT.B 68.7%   FGX.WT.C 0.82 $1.08 Undervalued
common is higher than  Fortune Minerals Limited   CCJ.WT.A 17-Aug-11   ROZ.WT 0.3   GMC.WT.A 12.67   SBN.WT.A 0.1   IE.WT 68.3%   GMC.WT 0.02 $0.03 Undervalued
the exercise price Goldcorp   PDP.WT 28-Aug-11   ECU.WT 0.25   FGX.WT.C 12.62   PDP.WT 0.105   TMB.WT 66.4%   IVA.WT 0.51 $0.66 Undervalued
  Gazit America Inc.   K.WT.B 07-Sep-11   SCI.WT 0.23   NGD.WT.B 11.96   MRS.WT 0.105   PMI.WT 65.7%   P.WT 1.45 $1.89 Undervalued
At the Money Great Basin   PGM.WT 11-Sep-11   MB.WT 0.16   YNG.WT 11.73   FSS.WT 0.11   PMI.WT.A 65.7%   AVL.WT 1.12 $1.43 Undervalued
When the price of the  GRAN COLOMBIA GOLD CORP   BAA.WT 17-Sep-11   SCP.WT 0.14   PGM.WT 11.71   CIQ.WT 0.11   UXG.WT 65.0%   FRO.WT 0.44 $0.56 Undervalued
underlying is equivalent Augen Gold Corp.   IVA.WT 20-Sep-11   PNP.WT.B 0.11   BIM.WT 11.4   PNP.WT 0.11   FR.WT.B 64.9%   RTU.WT 0.81 $1.04 Undervalued
or close to the strike price. Geovic Mining Corp   CMT.WT 25-Sep-11   SSL.WT 0.11   GLW.WT 11.08   AA.WT 0.11   CKG.WT 64.7%   SUE.WT 1.04 $1.31 Undervalued
  HORIZONS AP INCOME PLUS...   RF.WT 30-Sep-11   BSC.WT 0.09   RML.WT 10.6   HCF.WT 0.12   RN.WT 64.5%   CKG.WT 3.75 $4.70 Undervalued
Exercise ratio HARVEST BANKS &...   FEI.WT.A 30-Sep-11   DNA.WT 0.06   ANS.WT 9.8   PMI.WT.A 0.12   GPD.WT 64.1%   EDV.WT.A 0.83 $1.03 Undervalued
The number of warrants  HARVEST CDN INCOME AND...   CLQ.WT 30-Sep-11   IVA.WT 0.02   TID.WT 9.33   XRG.WT 0.13   BPV.WT 62.4%   GLD.WT 0.4 $0.50 Undervalued
related to one share and Ivanhoe Energy   AVL.WT 30-Sep-11   UTC.WT 0.01   G.WT.G 9.23   UXG.WT 0.14   DPM.WT.A 62.1%   MGT.WT.U 0.52 $0.65 Undervalued
specifies the amount of  IVANHOE AUSTRALIA LTD   PDL.WT.A 30-Sep-11   ABK.WT 0.00   CCJ.WT.B 9   CZY.WT 0.14   DPM.WT 62.1%   MSP.WT 0.23 $0.29 Undervalued
underlying that the owner Kinross   EDR.WT 07-Oct-11   TCP.WT 0   TMB.WT 8.88   MGA.WT.A 0.15   APV.WT 62.0%   RN.WT 1 $1.23 Undervalued
of a single warrant is  Katanga Mining   GMF.WT 14-Oct-11   MND.WT 0   K.WT.C 8.21   TID.WT 0.15   YCM.WT 61.1%   FT.WT.A 0.46 $0.56 Undervalued
entitled to buy. Canadian Life Companies...   TID.WT 16-Oct-11   CRJ.WT 0   BEV.WT 7.29   AAB.WT 0.155   YCM.WT.A 61.1%   AC.WT 1.59 $1.90 Undervalued
  Lanesborough REIT   TCM.WT 27-Oct-11   RN.WT -0.01   FRO.WT 7.14   VST.WT 0.16   MTO.WT 61.0%   AC.WT 1.59 $1.90 Undervalued
Time Value Minera Andes Inc.   PDL.WT.B 29-Oct-11   PAU.WT -0.01   PNP.WT.A 6.94   GPD.WT 0.16   BIM.WT.A 59.8%   CWB.WT 13.33 $15.57 Undervalued
The time value is the  Mega Brands Inc.   XYM.WT 31-Oct-11   VST.WT -0.01   K.WT.B 6.74   SCP.WT 0.18   BIM.WT 59.8%   NGD.WT.A 3.04 $3.56 Undervalued
difference between the Minefinders Corp. Ltd.   GMC.WT 03-Nov-11   TRX.WT.A -0.03   IVA.WT 6.65   MTO.WT 0.185   GLW.WT 58.1%   PDL.WT.A 2.15 $2.53 Undervalued
current warrant price  Mega Uranium   MRS.WT 03-Nov-11   MGA.WT.B -0.05   MGA.WT.A 6.55   PTA.WT.A 0.19   MB.WT 58.0%   CMP.WT.A 2.45 $2.84 Undervalued
and its intrinsic value. MINES MANAGEMENT INC.   TAO.WT 05-Nov-11   FSS.WT -0.06   FEI.WT.A 6.5   MGA.WT 0.2   SLW.WT.B 56.8%   DPM.WT.A 6.8 $7.90 Undervalued
The time value is to be  MINT Income Fund   URB.WT.B 10-Nov-11   PMI.WT -0.06   CEK.WT 6.5   YCM.WT 0.205   SLW.WT.U 56.8%   BPV.WT 0.7 $0.79 Undervalued
interpreted as the Mercator Minerals Ltd   TXG.WT 12-Nov-11   CIQ.WT -0.08   FRN.WT 6.4   PMI.WT 0.22   PGM.WT 56.3%   BRK.WT 1.68 $1.89 Undervalued
consideration paid for  Medoro Resources Ltd.   KAT.WT 20-Nov-11   GMF.WT -0.1   PDL.WT.B 6.09   NQ.WT 0.225   PDL.WT.B 56.2%   FNV.WT 5.65 $6.30 Undervalued
the advantage that the THE CANADIAN SHIELD FUND   HCF.WT 30-Nov-11   OCB.WT -0.1   YCM.WT 6.05   MSP.WT 0.23   PDL.WT.A 56.2%   AEM.WT.U 40.69 $45.06 Undervalued
warrant buyer has over  Metanor Resources   REC.WT 30-Nov-11   VZX.WT -0.13   CMP.WT.A 6.02   TCP.WT 0.25   DNA.WT 55.0%   QUX.WT 3.79 $4.21 Undervalued
the direct investor. It Norbord   CTF.WT 02-Dec-11   APV.WT -0.13   PDP.WT 6   ANS.WT 0.25   PDP.WT 54.8%   BAA.WT 0.95 $1.05 Fair Market Value
is greatest when the  NewGrowth Corp.   FT.WT.A 03-Dec-11   MSP.WT -0.14   FNV.WT 5.95   NOT.WT 0.265   XRG.WT 54.5%   EDR.WT 3.48 $3.79 Fair Market Value
warrants are 'at the money' New Gold Inc.   XRG.WT 21-Dec-11   CZY.WT -0.14   DPM.WT 5.51   MB.WT 0.27   PTM.WT 54.0%   WTN.WT 8.9 $9.72 Fair Market Value
but decreases as the Norsemont Mining Inc.   MFL.WT 31-Dec-11   REC.WT -0.15   MGT.WT.U 5.5   PAU.WT 0.28   AAB.WT 52.7%   DPM.WT 1.8 $1.94 Fair Market Value
exercise date draws closer. Noront Resources Ltd.   BIM.WT 31-Jan-12   RED.WT -0.15   MRS.WT 5.4   BEV.WT 0.28   BEV.WT 52.1%   USA.WT 0.55 $0.60 Fair Market Value
The decreased value is  Northquest Ltd   MGA.WT 12-Feb-12   PDL.WT.B -0.17   REC.WT 5.00   UTC.WT 0.33   PTA.WT.A 51.8%   MFL.WT 5.4 $5.67 Fair Market Value
called time decay and  OLEARY BRLC PLUS INC...   ML.WT 16-Feb-12   HCF.WT -0.2   ML.WT 4.95   SSL.WT 0.33   IVA.WT 50.0%   ML.WT.A 2.74 $2.86 Fair Market Value
decreases at a faster  OLEARY ADV TACT GLOB...   CKG.WT 23-Feb-12   QUX.WT -0.2   MGA.WT 4.91   TXG.WT 0.35   P.WT 50.0%   BWR.WT.A 0.55 $0.57 Fair Market Value
pace as the expiry date O'Leary Canadian Equity Income   XMF.WT.A 28-Feb-12   PMI.WT.A -0.21   IE.WT 4.88   NGD.WT.C 0.355   FRO.WT 50.0%   FR.WT.B 8.97 $9.27 Fair Market Value
draws closer. Orsu Metals    CNM.WT 28-Feb-12   ML.WT -0.24   FGX.WT.B 4.79   SSL.WT.A 0.36   MRS.WT 50.0%   CSI.WT 7.44 $7.58 Fair Market Value
  Primero Mining Corp   YCM.WT.A 28-Feb-12   CMP.WT.B -0.25   NOM.WT 4.72   ADM.WT 0.37   QUX.WT 49.4%   EIF.WT 7.37 $7.47 Fair Market Value
  Papuan Precious Metals...   TMB.WT 29-Feb-12   CEK.WT -0.26   GAA.WT 4.65   MID.WT 0.38   BWR.WT.A 49.2%   SLW.WT.B 29.5 $29.40 Fair Market Value
  North American Palladium Ltd.   BNK.WT.A 01-Mar-12   ST.WT -0.27   GAA.WT 4.65   SCI.WT 0.385   CSI.WT 49.2%   PAU.WT 0.28 $0.28 Fair Market Value
  Petrolifera Petroleum...   GMC.WT.A 06-Mar-12   FRN.WT -0.28   PTM.WT 4.63   GLD.WT 0.4   CMT.WT 48.7%   PTM.WT 0.48 $0.47 Fair Market Value
  Peregrine Metals Ltd.   FNV.WT 13-Mar-12   PTA.WT.A -0.28   FNV.WT.A 4.46   HBB.WT 0.41   CRJ.WT 48.5%   ROZ.WT 0.81 $0.80 Fair Market Value
  Polaris Minerals   NGD.WT.B 03-Apr-12   SSL.WT.A -0.29   RED.WT 4.38   GLW.WT 0.415   KAT.WT 47.2%   AR.WT 1.07 $1.04 Fair Market Value
  Petromanas Energy Inc   PNP.WT 16-Apr-12   GCM.WT -0.3   AAB.WT 4.19   TMB.WT 0.42   BRD.WT.A 46.7%   SLW.WT.U 24.85 $24.43 Fair Market Value
  Pinetree Capital   MGT.WT.U 20-Apr-12   AR.WT -0.35   TXG.WT 4.17   BIM.WT.A 0.43   BRD.WT 46.7%   BNK.WT.A 4.7 $4.57 Fair Market Value
  PETROAMERICA OIL CORP   URZ.WT 27-Apr-12   BRD.WT.A -0.35   ADM.WT 4.08   CLQ.WT 0.44   ANS.WT 45.4%   CRJ.WT 0.56 $0.55 Fair Market Value
  Platinum Group   GMC.WT.B 27-Apr-12   AAB.WT -0.35   NQ.WT 4.00   FRO.WT 0.44   GAA.WT 43.9%   ST.WT 0.51 $0.49 Fair Market Value
  Quadra FNX Mining Ltd.   RED.WT 29-Apr-12   BRD.WT -0.36   ZAZ.WT 4   FT.WT.A 0.46   GAA.WT 43.9%   TRX.WT 0.72 $0.68 Fair Market Value
  REC MINERALS CORP   BEV.WT 07-May-12   TID.WT -0.41   K.WT.D 3.93   MGA.WT.B 0.465   AR.WT 43.0%   SCP.WT 0.18 $0.17 Fair Market Value
  Redwater Energy Corp   MTO.WT 15-May-12   FEI.WT.A -0.42   QUX.WT 3.89   PTM.WT 0.48   BAA.WT 42.8%   PMI.WT 0.22 $0.21 Fair Market Value
  Rusoro Mining   CZY.WT 22-May-12   CTF.WT -0.44   AR.WT 3.88   IE.WT 0.49   MFL.WT 42.1%   TCM.WT 4.97 $4.65 Fair Market Value
  RODINIA OIL CORP   ROZ.WT 28-May-12   PLS.WT -0.50   NOT.WT 3.74   IVA.WT 0.51   AC.WT 42.0%   CEK.WT 0.03 $0.03 Fair Market Value
  Canadian Resources...   PMI.WT.A 28-May-12   IE.WT -0.54   LRT.WT 3.68   ST.WT 0.51   AC.WT 41.5%   XRG.WT 0.13 $0.12 Fair Market Value
  S Split Corp.   ADM.WT 02-Jun-12   MTO.WT -0.56   MND.WT 3.67   PNP.WT.A 0.52   ADM.WT 40.9%   K.WT.D 4.78 $4.16 Overvalued
  SCITI ROCS TRUST   MGA.WT.A 06-Jun-12   AA.WT -0.57   P.WT 3.66   MGT.WT.U 0.52   NOT.WT 40.9%   NGD.WT.C 0.355 $0.31 Overvalued
  Sprott Resource Corp   AAB.WT 06-Jun-12   PDP.WT -0.57   GPD.WT 3.63   USA.WT 0.55   ML.WT.A 40.0%   ML.WT 0.76 $0.65 Overvalued
  Silver Wheaton   APV.WT 11-Jun-12   OBF.WT -0.6   AVL.WT 3.60   BWR.WT.A 0.55   ML.WT 40.0%   TAO.WT 2.7 $2.32 Overvalued
  Sandstorm Resources Ltd.   YNG.WT 20-Jun-12   XYM.WT -0.65   EDV.WT.A 3.48   CRJ.WT 0.56   NOM.WT 38.7%   BRD.WT.A 0.79 $0.67 Overvalued
  Stonegate Agricom Ltd.   TRX.WT 21-Jun-12   LRT.WT -0.65   URZ.WT 3.44   NOM.WT 0.65   NGD.WT.A 37.5%   G.WT.G 5.12 $4.25 Overvalued
  Sulliden Gold Corp. Ltd.   WTN.WT 28-Jun-12   GAA.WT -0.65   NGD.WT.A 3.35   ECU.WT 0.66   NGD.WT.C 37.5%   SSL.WT 0.33 $0.28 Overvalued
  TAG OIL LTD   DPM.WT 29-Jun-12   ADM.WT -0.74   DNA.WT 3.3   BPV.WT 0.7   NGD.WT.B 37.5%   NGD.WT.B 0.085 $0.07 Overvalued
  T BOONE PICKENS ENERGY...   MND.WT 06-Aug-12   GPD.WT -0.76   PMI.WT.A 3.29   DNA.WT 0.7   NBD.WT 36.2%   TRX.WT.A 0.08 $0.06 Overvalued
  Thompson Creek Metals   QUX.WT 10-Sep-12   XMF.WT -0.81   BAA.WT 3.24   NBD.WT 0.7   URB.WT.B 35.9%   NOM.WT 0.65 $0.51 Overvalued
  Trident Performance Corp   SUE.WT 06-Oct-12   NBD.WT -0.88   VST.WT 3.06   TRX.WT 0.72   SSL.WT 35.1%   VST.WT 0.16 $0.12 Overvalued
  Tuscany Intl. Drilling...   PNP.WT.A 23-Oct-12   TYF.WT -0.95   CKG.WT 2.95   ML.WT 0.76   SSL.WT.A 35.1%   PTA.WT.A 0.19 $0.14 Overvalued
  Tembec   AC.WT 28-Oct-12   HAP.WT -0.98   PDL.WT.A 2.94   BRD.WT.A 0.79   EDV.WT.A 33.1%   COX.WT 0.08 $0.06 Overvalued
  Terrane Metals   AC.WT 28-Oct-12   CMT.WT -1.12   CLQ.WT 2.93   RTU.WT 0.81   EDV.WT.C 33.1%   FEI.WT 0.005 $0.00 Overvalued
  Torex Gold Resources Inc   FRO.WT 17-Nov-12   PGM.WT -1.18   CRJ.WT 2.86   ROZ.WT 0.81   TCM.WT 32.1%   BRD.WT 0.98 $0.67 Overvalued
  IA CLARINGTON ASTON...   NGD.WT.C 28-Nov-12   URB.WT.B -1.25   NGD.WT.C 2.86   FGX.WT.C 0.82   TID.WT 31.8%   FNV.WT.A 7.55 $5.08 Overvalued
  Urbana Corporation   RML.WT 29-Nov-12   FRO.WT -1.46   APV.WT 2.86   EDV.WT.A 0.83   CRP.WT 30.3%   DNA.WT 0.7 $0.46 Overvalued
  Uranerz Energy Corporati...   BIM.WT.A 10-Dec-12   CNM.WT -1.52   VZX.WT 2.8   GCM.WT 0.92   FNV.WT 29.8%   PMI.WT.A 0.12 $0.08 Overvalued
  US Silver Corp   ZAZ.WT 19-Dec-12   GAA.WT -1.65   FT.WT.A 2.67   BAA.WT 0.95   FNV.WT.A 29.8%   MGA.WT.A 0.15 $0.10 Overvalued
  Utility Corp.   AR.WT 29-Dec-12   BEV.WT -1.71   BIM.WT.A 2.65   BRD.WT 0.98   BRK.WT 29.1%   BEV.WT 0.28 $0.17 Overvalued
  U S Gold   VZX.WT 05-Jan-13   TBP.WT -1.75   TCM.WT 2.64   URZ.WT 1   BNK.WT.A 28.9%   TBP.WT 0.03 $0.02 Overvalued
  Vast Exploration Inc.   CMP.WT.B 25-Jan-13   GMC.WT -1.8   PNP.WT.B 2.58   RN.WT 1   TAO.WT 27.4%   AAB.WT 0.155 $0.09 Overvalued
  Vuzix Corp   ML.WT.A 29-Jan-13   FEI.WT -1.87   PTA.WT.A 2.47   PDL.WT.B 1.04   NEW.WT 26.1%   GMC.WT.A 0.075 $0.04 Overvalued
  World Financial Split...   ST.WT 29-Apr-13   OGE.WT -1.92   MB.WT 2.44   SUE.WT 1.04   AEM.WT.U 25.5%   IE.WT 0.49 $0.27 Overvalued
  Western Canadian Coal...   CRJ.WT 22-May-13   XRG.WT -2.00   ST.WT 2.41   NEW.WT 1.06   BSC.WT 25.5%   SSL.WT.A 0.36 $0.19 Overvalued
  M SPLIT CORP CAPITAL...   CCJ.WT.B 05-Jun-13   ZAZ.WT -2.03   MTO.WT 2.41   AR.WT 1.07   K.WT.D 25.4%   GMC.WT.B 0.03 $0.02 Overvalued
  Xinergy Ltd.   PAU.WT 05-Jul-13   GMC.WT.A -2.05   AC.WT 2.39   AVL.WT 1.12   K.WT.C 25.4%   NBD.WT 0.7 $0.36 Overvalued
  COMMERCE SPLIT CORP...   GLW.WT 08-Jul-13   MRS.WT -2.05   AC.WT 2.39   GAA.WT 1.15   K.WT.B 25.4%   APV.WT 0.07 $0.03 Very Overvalued
  Yukon-Nevada Gold   PNP.WT.B 11-Jul-13   YNG.WT -2.12   EIF.WT 2.35   GAA.WT 1.15   GMF.WT 25.0%   HAP.WT 0.01 $0.00 Very Overvalued
  Zazu Metals Corp   ANS.WT 29-Jul-13   COX.WT -2.2   BRD.WT.A 2.33   K.WT.B 1.24   XYM.WT 25.0%   AA.WT 0.11 $0.05 Very Overvalued
      K.WT.C 03-Sep-13   EMC.WT -2.34   CZY.WT 2.25   PNP.WT.B 1.4   RED.WT 25.0%   TID.WT 0.15 $0.06 Very Overvalued
      SLW.WT.U 05-Sep-13   CCJ.WT.B -2.41   RN.WT 2.24   P.WT 1.45   TYF.WT 23.2%   K.WT.C 2.29 $0.89 Very Overvalued
      FRN.WT 08-Sep-13   K.WT.D -2.51   SSL.WT 2.15   AC.WT 1.59   ABK.WT 22.7%   GCM.WT 0.92 $0.35 Very Overvalued
      GAA.WT 30-Nov-13   RF.WT -2.65   TAO.WT 2.13   AC.WT 1.59   SBN.WT.A 21.4%   ADM.WT 0.37 $0.14 Very Overvalued
      AEM.WT.U 02-Dec-13   P.WT -2.7   MGA.WT.B 2.09   ABK.WT 1.65   CWB.WT 20.9%   MGA.WT 0.2 $0.07 Very Overvalued
      NBD.WT 24-Dec-13   UXG.WT -2.84   AEM.WT.U 2.09   BRK.WT 1.68   G.WT.G 20.7%   URB.WT.B 0.02 $0.01 Very Overvalued
      EDV.WT.A 04-Feb-14   PNP.WT.A -2.89   CWB.WT 2.06   DPM.WT 1.8   TCP.WT 20.4%   TMB.WT 0.42 $0.14 Very Overvalued
      ECU.WT 20-Feb-14   MGT.WT.U -2.89   TRX.WT 2.04   MAI.WT 1.83   COX.WT 20.4%   K.WT.B 1.24 $0.31 Very Overvalued
      CWB.WT 02-Mar-14   NOT.WT -3.01   ROZ.WT 2.01   PDL.WT.A 2.15   RF.WT 20.0%   MTO.WT 0.185 $0.04 Very Overvalued
      BWR.WT.A 09-Apr-14   K.WT.B -3.7   SUE.WT 1.99   FGX.WT.B 2.16   CMP.WT.A 20.0%   NOT.WT 0.265 $0.05 Very Overvalued
      SSL.WT 23-Apr-14   RML.WT -3.74   EDR.WT 1.98   K.WT.C 2.29   CZY.WT 20.0%   PDP.WT 0.105 $0.02 Very Overvalued
      BRK.WT 27-May-14   GMC.WT.B -4.05   SSL.WT.A 1.97   CMP.WT.A 2.45   CMP.WT.B 20.0%   PGM.WT 0.07 $0.01 Very Overvalued
      FGX.WT.B 30-Jun-14   BIM.WT -4.36   MFL.WT 1.92   TAO.WT 2.7   TRX.WT 18.1%   ZAZ.WT 0.055 $0.01 Very Overvalued
      USA.WT 10-Jul-14   MGA.WT -4.37   BRD.WT 1.88   ML.WT.A 2.74   TRX.WT.A 18.1%   ANS.WT 0.25 $0.03 Very Overvalued
      MAI.WT 19-Aug-14   NGD.WT.A -4.83   ECU.WT 1.82   NGD.WT.A 3.04   FGX.WT.B 17.8%   RED.WT 0.08 $0.01 Very Overvalued
      K.WT.D 17-Sep-14   NGD.WT.B -4.83   NBD.WT 1.82   EDR.WT 3.48   FGX.WT.C 17.8%   RML.WT 0.025 $0.00 Very Overvalued
      AA.WT 07-Oct-14   DPM.WT -5.08   PMI.WT 1.8   CKG.WT 3.75   FSS.WT 17.3%   MRS.WT 0.105 $0.01 Very Overvalued
      PTA.WT.A 08-Oct-14   MGA.WT.A -5.27   MAI.WT 1.69   QUX.WT 3.79   CIQ.WT 17.1%   GPD.WT 0.16 $0.01 Very Overvalued
      BPV.WT 09-Oct-14   GLW.WT -5.4   AA.WT 1.68   BNK.WT.A 4.7   OCB.WT 16.2%   BIM.WT 0.1 $0.00 Very Overvalued
      MGA.WT.B 26-Oct-14   CCJ.WT -5.51   BRK.WT 1.63   K.WT.D 4.78   TBP.WT 16.1%   CZY.WT 0.14 $0.01 Very Overvalued
      GLD.WT 27-Oct-14   CRP.WT -5.83   BPV.WT 1.6   TCM.WT 4.97   MID.WT 14.1%   CMT.WT 0.025 $0.00 Very Overvalued
      BRD.WT.A 19-Nov-14   KAT.WT -7.25   SLW.WT.U 1.58   G.WT.G 5.12   SCP.WT 12.9%   CCJ.WT 0.005 $0.00 Very Overvalued
      BRD.WT 19-Nov-14   TMB.WT -8.27   DPM.WT.A 1.46   MFL.WT 5.4   HCF.WT 12.1%   CCJ.WT.A 0.005 $0.00 Very Overvalued
      NOT.WT 16-Dec-14   CCJ.WT.A -8.31   BNK.WT.A 1.45   FNV.WT 5.65   HAP.WT 12.1%   CCJ.WT.B 0.01 $0.00 Very Overvalued
      NQ.WT 21-Dec-14   YCM.WT -8.76   FR.WT.B 1.42   DPM.WT.A 6.8   OGE.WT 11.8%   CRP.WT 0.005 $0.00 Very Overvalued
      PMI.WT 23-Feb-15   ANS.WT -9.55   PAU.WT 1.39   EIF.WT 7.37   MSP.WT 11.6%   DML.WT.A 0.05 $0.00 Very Overvalued
      LRT.WT 05-Mar-15   WFS.WT.A -10.25   ML.WT.A 1.37   CSI.WT 7.44   HBB.WT 11.4%   EDV.WT.C 0.03 $0.00 Very Overvalued
      RN.WT 08-Mar-15   SBN.WT.A -10.35   SLW.WT.B 1.33   FNV.WT.A 7.55   OBF.WT 11.1%   KAT.WT 0.025 $0.00 Very Overvalued
      MB.WT 30-Mar-15   YCM.WT.A -11.26   GLD.WT 1.3   WTN.WT 8.9   EIF.WT 11.1%   OGE.WT 0.005 $0.00 Very Overvalued
      P.WT 19-Jul-15   PNP.WT -11.39   WTN.WT 1.3   FR.WT.B 8.97   RTU.WT 10.6%   OSU.WT.B 0.005 $0.00 Very Overvalued
      GCM.WT 24-Aug-15   XMF.WT.A -12.2   CSI.WT 1.28   CWB.WT 13.33   UTC.WT 10.3%   SBN.WT.A 0.1 $0.00 Very Overvalued
      SSL.WT.A 19-Oct-15   K.WT.C -13.21   USA.WT 1.25   SLW.WT.U 24.85   SCI.WT 10.3%   WFS.WT.A 0.035 $0.00 Very Overvalued
      DPM.WT.A 20-Nov-15   EDV.WT.C -14.17   BWR.WT.A 1.23   SLW.WT.B 29.5   CCJ.WT 10.0%   YCM.WT 0.205 $0.00 Very Overvalued
      GAA.WT 30-Nov-15   OSU.WT.B -15.19   GCM.WT 0.63   AEM.WT.U 40.69   CCJ.WT.A 10.0%   YCM.WT.A 0.075 $0.00 Very Overvalued
      FNV.WT.A 16-Jun-17   DML.WT.A -26.66   BSC.WT nt   BSC.WT nt   CCJ.WT.B 10.0%   BSC.WT nt $4.75 Not Trading
      NGD.WT.A 28-Jun-17   FNV.WT.A -41.36   CMP.WT.B nt   CMP.WT.B nt   CTF.WT 9.1%   CMP.WT.B nt $2.36 Not Trading