Warrant Values for Funds, Trusts or Companies holding a basket of stocks for the week of January 2nd, 2009
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| Valuing Warrants | Companies with | Market Cap | 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 | Aberdeen International Inc | 12,205,088.76 | URB.WT | 11-Jan-09 | OGF.WT | 0.04 | CMP.WT.B | nt | ASF.WT | 0.005 | CNM.WT | 418.3% | RF.WT | 0.035 | $4.79 | Bargain | ||||||
| The last day the warrants | Global Agribusiness Trust | 14,400,000.00 | FTF.WT | 30-Jan-09 | VIP.WT | -0.09 | PME.WT | 658 | CBB.WT | 0.005 | TRT.WT | 266.7% | CIW.WT.A | 0.025 | $3.16 | Bargain | ||||||
| can be exercised. If | Atlas Minerals | 438,540.54 | ECG.WT | 20-Feb-09 | AOG-WT | -0.11 | ASF.WT | 540 | FIT.WT | 0.005 | CIW.WT.A | 242.1% | ASF.WT | 0.005 | $0.59 | Bargain | ||||||
| warrants aren't being | Ainsworth Lumber | 85,058,784.86 | MLY.WT | 16-Apr-09 | TRT.WT | -0.22 | GRE.WT | 492 | CNM.WT | 0.005 | CIW.WT | 242.1% | GFT.WT | 0.015 | $1.47 | Bargain | ||||||
| exercised then they | Brompton Adv Oil & Gas Inc Fund | 44,138,897.58 | FIT.WT | 29-Apr-09 | OGN.WT | -0.5 | RF.WT | 474.29 | CBK.WT | 0.005 | FIT.WT | 212.6% | GRE.WT | 0.01 | $0.85 | Bargain | ||||||
| must be sold the day | Acuity Small Cap | 11,340,000.00 | VIP.WT | 27-May-09 | AV-WT | -0.55 | FTF.WT | 450 | PME.WT | 0.005 | FIT.WT.A | 212.6% | EPD.WT | 0.02 | $1.53 | Bargain | ||||||
| before the expiry date. | Brompton Adv VIP Inc Fund | 133,193,124.36 | AOG-WT | 27-May-09 | AAB.WT | -0.88 | FTF.WT | 450 | URB.WT.A | 0.005 | PNP.WT.A | 205.9% | FTF.WT | 0.01 | $0.76 | Bargain | ||||||
| The longer the time to | Avnel Gold Mining | 5,399,126.55 | OGF.WT | 27-May-09 | TCP.WT | -1.05 | XHM.WT | 384.67 | TRT.WT | 0.005 | PNP.WT | 205.9% | CIW.WT | 0.03 | $2.10 | Bargain | ||||||
| expiry the more | Banro Corp | 71,561,283.82 | AV-WT | 27-May-09 | FGX.WT | -2.24 | FIT.WT | 340 | MLY.WT | 0.005 | PNP.WT.B | 205.9% | CBB.WT | 0.005 | $0.29 | Bargain | ||||||
| valuable the warrants. | Baja Mining Corp | 37,912,049.31 | CPM.WT | 29-May-09 | FGX.WT | -2.24 | CBK.WT | 332 | ECG.WT | 0.005 | CRP.WT | 196.0% | FIT.WT | 0.005 | $0.22 | Bargain | ||||||
| Bear Creek Mining | 87,622,096.34 | CBK.WT | 30-Jun-09 | URB.WT.A | -2.25 | URB.WT.A | 300 | URB.WT | 0.005 | GBP.WT.A | 194.6% | XHM.WT | 0.015 | $0.56 | Bargain | |||||||
| Leverage | Baffinland Iron Mns Corp | 29,599,910.60 | PME.WT | 30-Jun-09 | URB.WT | -2.25 | URB.WT | 300 | GRE.WT | 0.01 | GBP.WT | 194.6% | CRP.WT | 0.09 | $2.83 | Bargain | ||||||
| The leverage of a warrant | Bioniche Life Sciences Inc | 29,713,851.90 | URB.WT.A | 12-Jul-09 | PNP.WT.B | -2.36 | GFT.WT | 296.67 | FTF.WT | 0.01 | CBB.WT | 169.8% | CNM.WT | 0.005 | $0.12 | Bargain | ||||||
| is a measure of how much | Bankers Petroleum | 160,316,447.25 | GBP.WT | 31-Jul-09 | CNM.WT | -2.48 | MLY.WT | 270 | FTF.WT | 0.01 | GUR.WT | 157.1% | GBP.WT.A | 0.075 | $1.45 | Bargain | ||||||
| you can increase your | Blue Sky Uranium | 1,110,180.00 | CIW.WT | 31-Aug-09 | OGE.WT | -3.6 | DPF.WT | 200 | GFT.WT | 0.015 | FGX.WT | 154.1% | CBK.WT.A | 0.025 | $0.44 | Bargain | ||||||
| exposure to a share if | Breakwater Resources | 80,371,350.72 | XHM.WT | 30-Oct-09 | CBK.WT | -3.69 | EPD.WT | 192.5 | XHM.WT | 0.015 | FGX.WT | 154.1% | CBK.WT | 0.005 | $0.08 | Bargain | ||||||
| you bought warrants | Copernican British Banks Fund | 20,900,000.00 | FGX.WT | 30-Oct-09 | GFT.WT | -3.75 | CBB.WT | 190 | DPF.WT | 0.015 | MLY.WT | 143.7% | FIT.WT.A | 0.07 | $1.02 | Bargain | ||||||
| instead of making a | Coalcorp Mining | 43,251,762.25 | GRE.WT | 31-Oct-09 | GBP.WT | -3.76 | CIW.WT.A | 150.4 | EPD.WT | 0.02 | ASF.WT | 143.6% | PME.WT | 0.005 | $0.07 | Bargain | ||||||
| direct investment. It is | Caspian Energy | 3,652,014.18 | FRE.WT | 9-Nov-09 | CBK.WT.A | -3.79 | CPM.WT | 147 | CPM.WT | 0.02 | AAB.WT | 141.6% | GBP.WT | 0.06 | $0.69 | Bargain | ||||||
| calculated dividing the | Challenger Energy Corp | 60,126,565.80 | OGN.WT | 30-Nov-09 | CIW.WT | -3.81 | CIW.WT | 125.33 | CIW.WT.A | 0.025 | ECG.WT | 129.3% | OGN.WT | 0.25 | $2.64 | Bargain | ||||||
| current share price by | Chesapeake Gold | 101,369,605.56 | UF.WT | 15-Dec-09 | GBP.WT.A | -3.86 | CPM.WT.A | 73.5 | CBK.WT.A | 0.025 | EPD.WT | 119.1% | VIP.WT | 0.105 | $1.05 | Bargain | ||||||
| the current price of the | Calstar Oil & Gas Ltd | 9,316,299.09 | ASF.WT | 15-Jan-10 | CIW.WT.A | -3.89 | OGE.WT | 70 | CIW.WT | 0.03 | CBK.WT.A | 116.8% | FGX.WT | 0.475 | $4.70 | Bargain | ||||||
| warrant. | C M P Gold Trust | 23,961,245.00 | HAY.WT | 26-Feb-10 | COX.WT | -4.39 | CBK.WT.A | 66.4 | RF.WT | 0.035 | CBK.WT | 116.8% | AGB.WT | 0.09 | $0.85 | Bargain | ||||||
| Creston Moly | 10,891,633.23 | FIT.WT.A | 30-Apr-10 | XHM.WT | -4.58 | ECG.WT | 66.4 | AAB.WT | 0.035 | MPM.WT | 106.4% | PNP.WT.A | 0.11 | $1.04 | Bargain | |||||||
| Intrinsic Value | Canadian Income Mgmt Tr | 588,420.96 | FGX.WT | 31-May-10 | CPM.WT | -4.71 | VIP.WT | 64.29 | CPM.WT.A | 0.04 | GRE.WT | 104.8% | OGE.WT | 0.12 | $1.01 | Bargain | ||||||
| The difference between | Coxe Commodity Strategy Fund | 197,225,000.00 | CPM.WT.A | 31-May-10 | CPM.WT.A | -4.81 | OGN.WT | 46 | GBP.WT | 0.06 | PME.WT | 104.3% | CPM.WT.A | 0.04 | $0.32 | Bargain | ||||||
| the exercise price and | Copernican Int'l Premium Dividend Fund | 20,535,900.00 | CBB.WT | 14-Jun-10 | MPM.WT | -5.26 | CRP.WT | 43.89 | FIT.WT.A | 0.07 | GFT.WT | 102.6% | PNP.WT | 0.12 | $0.94 | Bargain | ||||||
| the actual trading price | Claude Resources | 48,556,015.00 | CBK.WT.A | 30-Jun-10 | GRE.WT | -5.33 | AOG-WT | 42.12 | GBP.WT.A | 0.075 | CMP.WT.A | 91.9% | FGX.WT | 0.475 | $3.60 | Bargain | ||||||
| of the common stock. | Ceres Global Ag Corp | 50,929,641.00 | GUR.WT | 30-Jun-10 | PNP.WT.A | -5.36 | AGB.WT | 40 | AOG-WT | 0.085 | CMP.WT.B | 91.9% | AOG-WT | 0.085 | $0.58 | Bargain | ||||||
| Once the common has | Colossus Minerals | 41,433,800.24 | GFT.WT | 5-Jul-10 | FIT.WT | -5.45 | GBP.WT | 36.5 | CRP.WT | 0.09 | AGB.WT | 90.5% | URB.WT.A | 0.005 | $0.03 | Bargain | ||||||
| gone over the exercise | Central Sun Mining | 20,846,756.26 | MPM.WT | 10-Jul-10 | UF.WT | -5.48 | AV-WT | 34.2 | AGB.WT | 0.09 | URB.WT.A | 79.1% | DPF.WT | 0.015 | $0.09 | Bargain | ||||||
| price the warrants are | Copper Mountain | 13,677,940.28 | FTF.WT | 30-Jul-10 | FIT.WT.A | -5.55 | FRE.WT | 33.43 | UF.WT | 0.1 | URB.WT | 79.1% | OGF.WT | 0.13 | $0.71 | Bargain | ||||||
| said to be 'in the money'. | Copper Mesa Mining | 3,080,194.68 | GBP.WT.A | 31-Jul-10 | FTF.WT | -5.75 | HAY.WT | 32.54 | VIP.WT | 0.105 | OCF.WT | 78.6% | GUR.WT | 0.115 | $0.55 | Bargain | ||||||
| Crosshair Exploration & Mining Corp | 26,492,431.00 | OCF.WT | 31-Jul-10 | FTF.WT | -5.75 | GBP.WT.A | 29.2 | FRE.WT | 0.105 | FTF.WT | 77.5% | PNP.WT.B | 0.26 | $1.09 | Bargain | |||||||
| Volatility | Davie Yards | 18,696,930.00 | DPF.WT | 13-Aug-10 | HAY.WT | -5.77 | OGF.WT | 28.85 | PNP.WT.A | 0.11 | FTF.WT | 77.5% | TRT.WT | 0.005 | $0.02 | Bargain | ||||||
| The higher the volatility | Dioro Exploration | 27,474,123.00 | CIW.WT.A | 31-Aug-10 | OCF.WT | -6 | UF.WT | 25.2 | GUR.WT | 0.115 | HAY.WT | 75.9% | COX.WT | 0.42 | $1.42 | Bargain | ||||||
| rating the higher the price | Denison Mines | 399,036,823.50 | TRT.WT | 10-Oct-10 | EPD.WT | -6.15 | FIT.WT.A | 24.29 | OGE.WT | 0.12 | CPM.WT.A | 75.2% | MPM.WT | 0.5 | $1.63 | Bargain | ||||||
| of the warrant will be. | Dynamite Resources | 11,353,500.00 | EPD.WT | 12-Nov-10 | MLY.WT | -6.15 | CNM.WT | 24 | PNP.WT | 0.12 | CPM.WT | 75.2% | HAY.WT | 0.13 | $0.42 | Bargain | ||||||
| A measure of actual | DPF India Opportunities Fund | 74,109,000.00 | AGB.WT | 30-Nov-10 | AGB.WT | -6.4 | OCF.WT | 18.89 | OGF.WT | 0.13 | UF.WT | 74.4% | AV-WT | 0.2 | $0.64 | Bargain | ||||||
| stock price changes over | Dundee Precious Metals | 96,695,879.28 | CRP.WT | 21-Dec-10 | CMP.WT.A | -6.61 | FGX.WT | 16.34 | HAY.WT | 0.13 | FRE.WT | 73.0% | CMP.WT.A | 0.55 | $1.71 | Bargain | ||||||
| a specific period of time. | Envoy Capital Group Inc | 16,633,307.90 | OGE.WT | 31-Dec-10 | RF.WT | -7.15 | FGX.WT | 16.34 | AV-WT | 0.2 | XHM.WT | 73.0% | OCF.WT | 0.225 | $0.69 | Bargain | ||||||
| Historical volatility is | Etruscan Resources | 66,837,739.65 | CMP.WT.A | 25-Jan-11 | ECG.WT | -7.34 | COX.WT | 16.33 | OCF.WT | 0.225 | OGF.WT | 70.4% | MLY.WT | 0.005 | $0.01 | Bargain | ||||||
| calculated by using the | EarthFirst | 1,549,557.27 | TCP.WT | 28-Feb-11 | FRE.WT | -7.49 | GUR.WT | 14.17 | OGN.WT | 0.25 | AOG-WT | 67.2% | AAB.WT | 0.035 | $0.07 | Bargain | ||||||
| standard deviation of an | Eastern Platinum Limited | 261,864,139.08 | COX.WT | 31-May-11 | GUR.WT | -8.62 | PNP.WT.A | 10.36 | PNP.WT.B | 0.26 | DPF.WT | 63.3% | TCP.WT | 0.99 | $1.43 | Undervalued | ||||||
| underlying stock price. | European Premium Dividend | 11,492,635.00 | RF.WT | 30-Sep-11 | PME.WT | -8.71 | MPM.WT | 9.98 | COX.WT | 0.42 | VIP.WT | 61.2% | CPM.WT | 0.02 | $0.02 | Fair Market Value | ||||||
| Erdene Gold | 22,307,719.25 | CNM.WT | 28-Feb-12 | CBB.WT | -9.05 | CMP.WT.A | 9.8 | FGX.WT | 0.475 | OGN.WT | 60.9% | UF.WT | 0.1 | $0.08 | Overvalued | |||||||
| In the Money | Fortress Energy Inc | 6,755,072.00 | PNP.WT | 16-Apr-12 | ASF.WT | -9.3 | PNP.WT | 9.5 | FGX.WT | 0.475 | RF.WT | 56.0% | FRE.WT | 0.105 | $0.08 | Overvalued | ||||||
| When the price of the | Faircourt Gold Income | 18,204,960.00 | AAB.WT | 6-Jun-12 | DPF.WT | -9.5 | TCP.WT | 9.29 | MPM.WT | 0.5 | COX.WT | 53.9% | ECG.WT | 0.005 | $0.00 | Very Overvalued | ||||||
| common is higher than | Int'l Fin. Income and Growth Trust | 2,972,035.20 | PNP.WT.A | 23-Oct-12 | CRP.WT | -9.55 | TRT.WT | 5 | CMP.WT.A | 0.55 | AV-WT | 46.9% | FTF.WT | 0.01 | $0.00 | Very Overvalued | ||||||
| the exercise price | Franco-Nevada | 2,143,411,000.00 | CMP.WT.B | 25-Jan-13 | CMP.WT.B | -9.61 | PNP.WT.B | 4.38 | TCP.WT | 0.99 | OGE.WT | 37.6% | URB.WT | 0.005 | $0.00 | Very Overvalued | ||||||
| First Majestic Silver Corp | 182,980,376.80 | PNP.WT.B | 11-Jul-13 | PNP.WT | -13.86 | AAB.WT | 3.43 | CMP.WT.B | nt | TCP.WT | 26.8% | CMP.WT.B | nt | $2.65 | Not Trading | |||||||
| At the Money | Front Street Resource Perf. Fund | 56,461,084.29 | ||||||||||||||||||||
| When the price of the | Fortune Minerals | 20,992,043.87 | ||||||||||||||||||||
| underlying is equivalent | Focused Global Trends Fund | 21,283,344.00 | ||||||||||||||||||||
| or close to the strike price. | Fralex Therapeutics Inc | 421,647.94 | ||||||||||||||||||||
| Goldcorp | 27,124,077,509.64 | |||||||||||||||||||||
| Exercise ratio | Great Basin | 322,892,785.82 | ||||||||||||||||||||
| The number of warrants | Global Banks Premium Income Trust | 10,003,563.03 | ||||||||||||||||||||
| related to one share and | Distinction Group | 47,160,253.50 | ||||||||||||||||||||
| specifies the amount of | CC&L Global Financials Fund II | 68,258,024.90 | ||||||||||||||||||||
| underlying that the owner | Gold Wheaton | 247,542,242.02 | ||||||||||||||||||||
| of a single warrant is | Geovic Mining Corp | 55,567,450.44 | ||||||||||||||||||||
| entitled to buy. | Golden Predator | 25,700,655.17 | ||||||||||||||||||||
| Sentry Select Global Real Estate | 15,480,288.00 | |||||||||||||||||||||
| Time Value | Global Uranium | 15,981,172.00 | ||||||||||||||||||||
| The time value is the | Stone Agribusiness | 18,240,229.53 | ||||||||||||||||||||
| difference between the | Hudbay | 231,922,246.92 | ||||||||||||||||||||
| current warrant price | High Desert Gold Corp | 10,125,000.00 | ||||||||||||||||||||
| and its intrinsic value. | High River Gold Mines | 35,409,093.17 | ||||||||||||||||||||
| The time value is to be | I C S Copper Systems Ltd | 594,277.38 | ||||||||||||||||||||
| interpreted as the | Ivanhoe Energy | 170,080,891.74 | ||||||||||||||||||||
| consideration paid for | I M A Exploration | 15,900,279.52 | ||||||||||||||||||||
| the advantage that the | International Nickel | 8,641,761.28 | ||||||||||||||||||||
| warrant buyer has over | Ivory Energy | 4,291,569.18 | ||||||||||||||||||||
| the direct investor. It | Kinross | 13,870,848,075.70 | ||||||||||||||||||||
| is greatest when the | Katanga Mining | 84,581,549.83 | ||||||||||||||||||||
| warrants are 'at the money' | Labrador Iron Mines | 16,672,310.47 | ||||||||||||||||||||
| but decreases as the | Added Capital | 6,440,952.40 | ||||||||||||||||||||
| exercise date draws closer. | Marathon PGM | 16,546,223.76 | ||||||||||||||||||||
| The decreased value is | Melco China Resorts (Holding) Ltd. | 4,371,967.20 | ||||||||||||||||||||
| called time decay and | M D N Inc | 55,867,138.56 | ||||||||||||||||||||
| decreases at a faster | Metrobridge Networks | 1,835,165.92 | ||||||||||||||||||||
| pace as the expiry date | Mega Uranium | 187,256,732.00 | ||||||||||||||||||||
| draws closer. | Mines Management | 43,217,818.00 | ||||||||||||||||||||
| Mercator Minerals Ltd | 41,141,466.85 | |||||||||||||||||||||
| Sprott Molybdenum Part. Corp. | 60,059,221.20 | |||||||||||||||||||||
| Markland AGF Precious Metals... | 12,624,700.00 | |||||||||||||||||||||
| Metanor Resources | 34,507,255.71 | |||||||||||||||||||||
| Metallic Ventures Gold | 28,595,322.25 | |||||||||||||||||||||
| Norbord | 103,920,773.73 | |||||||||||||||||||||
| New Gold Inc. | 341,120,371.27 | |||||||||||||||||||||
| Northrock Resources | 546,730.60 | |||||||||||||||||||||
| Oilsands Canada Corp | 19,320,925.00 | |||||||||||||||||||||
| Oroco Resource Corp | 1,655,611.26 | |||||||||||||||||||||
| O'Leary Global Equity Income | 30,744,000.00 | |||||||||||||||||||||
| Brompton Oil & Gas Inc Fund | 81,638,962.50 | |||||||||||||||||||||
| Osisko Exploration | 618,447,277.26 | |||||||||||||||||||||
| Orsu Metals | 50,238,014.97 | |||||||||||||||||||||
| Olympus Pacific Minerals Inc | 20,915,359.29 | |||||||||||||||||||||
| RailPower | 12,349,209.24 | |||||||||||||||||||||
| Palo Duro Energy | 1,583,968.44 | |||||||||||||||||||||
| North American Palladium Ltd. | 198,809,419.20 | |||||||||||||||||||||
| Phoenix Coal Inc. | 33,001,818.96 | |||||||||||||||||||||
| Primary Petroleum | 1,109,786.85 | |||||||||||||||||||||
| Sentry Select Primary Metals | 56,479,430.00 | |||||||||||||||||||||
| Pinetree Capital | 149,697,946.32 | |||||||||||||||||||||
| Potash North | 1,947,680.74 | |||||||||||||||||||||
| Petro Rubiales Energy | 528,893,924.46 | |||||||||||||||||||||
| ProSep | 8,445,136.41 | |||||||||||||||||||||
| Quadra Mining | 253,933,903.30 | |||||||||||||||||||||
| Redcorp Ventures | 17,926,027.70 | |||||||||||||||||||||
| CA Bancorp Cdn Realty Fin. Corp | 25,457,760.00 | |||||||||||||||||||||
| Rusoro Mining | 269,095,837.64 | |||||||||||||||||||||
| Ranaz Corp | 4,510,731.38 | |||||||||||||||||||||
| Rye Patch Gold | 4,761,206.38 | |||||||||||||||||||||
| Sprott Resource Corp | 220,276,632.56 | |||||||||||||||||||||
| Silver Wheaton | 1,792,651,328.64 | |||||||||||||||||||||
| S M T C Mfg Corp of Can | 534,263.10 | |||||||||||||||||||||
| Salazar Resources | 8,650,783.50 | |||||||||||||||||||||
| Stingray Resources | 16,443,274.96 | |||||||||||||||||||||
| Stornoway Diamonds | 20,450,371.14 | |||||||||||||||||||||
| Thompson Creek Metals | 694,000,149.60 | |||||||||||||||||||||
| Trident Performance Corp | 29,222,364.80 | |||||||||||||||||||||
| Tembec | 107,000,000.00 | |||||||||||||||||||||
| TSO3 Inc | 20,581,262.86 | |||||||||||||||||||||
| TriNorth Capital Inc. | 3,768,682.93 | |||||||||||||||||||||
| Terrane Metals | 17,545,767.50 | |||||||||||||||||||||
| Uranium Focused | 47,462,022.72 | |||||||||||||||||||||
| Urbana | 102,504,873.00 | |||||||||||||||||||||
| U S Gold | 85,455,437.53 | |||||||||||||||||||||
| Visible Gold Mines | 1,775,895.03 | |||||||||||||||||||||
| Brompton VIP Income Fund | 319,105,190.25 | |||||||||||||||||||||
| VisionSky Corp | 201,316.67 | |||||||||||||||||||||
| Western Canada Coal | 146,682,431.28 | |||||||||||||||||||||
| Star Hedge Managers Corp | 43,275,000.00 | |||||||||||||||||||||
| Yukon-Nevada Gold | 6,490,765.05 | |||||||||||||||||||||
| Yamana Gold | 6,050,332,204.00 | |||||||||||||||||||||
| Zazu Metals Corp | 4,906,203.36 | |||||||||||||||||||||
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(1). (2).
(3) see Notes
Good sites for US warrants
are:
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