Warrant Values for Funds, Trusts or Companies holding a basket of stocks for the week of June 5th, 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 | 30,738,122.68 | CBK.WT | 30-Jun-09 | FAY-WT.TO | 1.27 | CMP.WT.B | nt | TRT.WT | 0.005 | CNM.WT | 1432.1% | RF.WT | 0.04 | $2.61 | Bargain | ||||||
| The last day the warrants | Agnico-Eagle | 9,971,737,558.56 | PME.WT | 30-Jun-09 | TCP.WT | 0.65 | PME.WT | 1080 | FTF.WT | 0.005 | CRP.WT | 313.8% | CRP.WT | 0.125 | $5.91 | Bargain | ||||||
| can be exercised. If | Global Agribusiness Trust | 18,000,000.00 | URB.WT.A | 12-Jul-09 | FFI.WT | 0.65 | FTF.WT | 850 | CBK.WT | 0.005 | TRT.WT | 249.2% | CIW.WT.A | 0.015 | $0.44 | Bargain | ||||||
| warrants aren't being | Atlas Minerals | 674,479.58 | TRF-WT.TO | 23-Jul-09 | RIT-WT.TO | 0.19 | RF.WT | 475 | PME.WT | 0.005 | GBP.WT.A | 126.3% | GBP.WT.A | 0.04 | $0.94 | Bargain | ||||||
| exercised then they | Ainsworth Lumber | 134,858,568.00 | RIT-WT.TO | 23-Jul-09 | BRK.WT | -0.06 | CBK.WT | 472 | EPD.WT | 0.01 | GBP.WT | 126.3% | EPD.WT | 0.01 | $0.23 | Bargain | ||||||
| must be sold the day | Acuity Small Cap | 14,490,000.00 | EWP-WT.TO | 23-Jul-09 | TRT.WT | -0.2 | EPD.WT | 420 | CNM.WT | 0.01 | PNP.WT.A | 110.7% | CNM.WT | 0.01 | $0.15 | Bargain | ||||||
| before the expiry date. | Avnel Gold Mining | 13,461,822.13 | FAY-WT.TO | 23-Jul-09 | EWP-WT.TO | -0.28 | ASF.WT | 345 | ASF.WT | 0.01 | PNP.WT | 110.7% | FIT.WT.A | 0.1 | $1.01 | Bargain | ||||||
| The longer the time to | Banro Corp | 158,706,662.52 | GBP.WT | 31-Jul-09 | OGO.WT | -0.3 | CIW.WT.A | 305.33 | URB.WT.A | 0.01 | PNP.WT.B | 110.7% | GFT.WT | 0.035 | $0.35 | Bargain | ||||||
| expiry the more | Bear Creek Mining | 138,642,557.50 | CIW.WT | 31-Aug-09 | MPM.WT | -0.44 | OGN.WT | 197.09 | CIW.WT.A | 0.015 | CBB.WT | 108.2% | AGB.WT | 0.06 | $0.56 | Bargain | ||||||
| valuable the warrants. | Baffinland Iron Mns Corp | 97,914,557.58 | FFI.WT | 15-Sep-09 | CGL.WT | -0.62 | EWP-WT.TO | 186.67 | GBP.WT | 0.02 | FIT.WT.A | 106.5% | DPF.WT | 0.04 | $0.34 | Bargain | ||||||
| Bankers Petroleum | 418,708,838.70 | XHM.WT | 30-Oct-09 | AAB.WT | -0.68 | CIW.WT | 152.67 | EWP-WT.TO | 0.03 | AAB.WT | 88.5% | TRF-WT.TO | 0.27 | $1.51 | Bargain | |||||||
| Leverage | Brick Group | 50,920,865.02 | FGX.WT | 30-Oct-09 | EDV.WT.A | -0.81 | URB.WT.A | 150 | CBB.WT | 0.03 | BRK.WT | 82.4% | PNP.WT | 0.16 | $0.83 | Bargain | ||||||
| The leverage of a warrant | Breakwater Resources | 230,439,995.62 | GRE.WT | 31-Oct-09 | SCP.WT | -0.99 | GBP.WT | 149.5 | CIW.WT | 0.03 | FGX.WT | 76.6% | OGO.WT | 0.165 | $0.80 | Bargain | ||||||
| is a measure of how much | Copernican British Banks Fund | 23,323,370.40 | FRE.WT | 09-Nov-09 | PNP.WT.B | -1.08 | GFT.WT | 139.14 | GFT.WT | 0.035 | FGX.WT | 76.6% | PNP.WT.A | 0.285 | $1.36 | Bargain | ||||||
| you can increase your | Copernican World Banks Fund | 9,201,021.68 | CGL.WT | 28-Nov-09 | TRF-WT.TO | -1.09 | GRE.WT | 131.33 | RF.WT | 0.04 | TRF-WT.TO | 72.1% | TRT.WT | 0.005 | $0.02 | Bargain | ||||||
| exposure to a share if | Coalcorp Mining | 35,466,445.05 | OGN.WT | 30-Nov-09 | OGN.WT | -1.16 | DPF.WT | 120 | GBP.WT.A | 0.04 | DPF.WT | 69.5% | OGE.WT | 0.105 | $0.43 | Bargain | ||||||
| you bought warrants | Caspian Energy | 10,956,042.54 | UF.WT | 15-Dec-09 | GFT.WT | -1.18 | XHM.WT | 95.56 | DPF.WT | 0.04 | AGB.WT | 67.2% | GRE.WT | 0.045 | $0.17 | Bargain | ||||||
| instead of making a | Claymore Gold Bullion Trust | 375,200,000.00 | ASF.WT | 15-Jan-10 | FRE.WT | -1.46 | HAY.WT | 79.14 | GRE.WT | 0.045 | CBK.WT.A | 66.6% | FGX.WT | 0.52 | $1.92 | Bargain | ||||||
| direct investment. It is | Challenger Energy Corp | 19,326,874.68 | HAY.WT | 26-Feb-10 | XHM.WT | -1.75 | AGB.WT | 75 | GUR.WT | 0.05 | CBK.WT | 66.6% | FRE.WT | 0.11 | $0.30 | Bargain | ||||||
| calculated dividing the | Chesapeake Gold | 170,861,694.62 | OGO.WT | 31-Mar-10 | FGX.WT | -2.01 | GBP.WT.A | 74.75 | OGN.WT | 0.055 | ASF.WT | 65.5% | MPM.WT | 0.58 | $1.59 | Bargain | ||||||
| current share price by | Calstar Oil & Gas Ltd | 9,316,299.09 | FIT.WT.A | 30-Apr-10 | FGX.WT | -2.01 | OGE.WT | 73.81 | AGB.WT | 0.06 | CIW.WT.A | 64.8% | PNP.WT.B | 0.71 | $1.74 | Bargain | ||||||
| the current price of the | C M P Gold Trust | 32,324,422.90 | FGX.WT | 31-May-10 | URB.WT.A | -2.25 | OGO.WT | 70.91 | UF.WT | 0.06 | CIW.WT | 64.8% | BRK.WT | 0.21 | $0.48 | Bargain | ||||||
| warrant. | Creston Moly | 16,942,540.58 | CPM.WT.A | 31-May-10 | GRE.WT | -2.29 | GUR.WT | 62 | CBK.WT.A | 0.065 | OCF.WT | 64.7% | OCF.WT | 0.33 | $0.72 | Bargain | ||||||
| Canadian Income Mgmt Tr | 686,320.65 | CBB.WT | 14-Jun-10 | CNM.WT | -2.45 | UF.WT | 61 | HAY.WT | 0.07 | URB.WT.A | 59.3% | EWP-WT.TO | 0.03 | $0.06 | Bargain | |||||||
| Intrinsic Value | Coxe Commodity Strategy Fund | 222,336,260.30 | CBK.WT.A | 30-Jun-10 | GBP.WT.A | -2.96 | TRF-WT.TO | 59.96 | AAB.WT | 0.075 | CPM.WT.A | 55.0% | FAY-WT.TO | 0.76 | $1.45 | Bargain | ||||||
| The difference between | Copernican Int'l Premium Dividend Fund | 19,367,505.50 | GUR.WT | 30-Jun-10 | CIW.WT | -2.99 | FRE.WT | 52.64 | XHM.WT | 0.09 | PME.WT | 55.0% | TCP.WT | 1.2 | $2.25 | Bargain | ||||||
| the exercise price and | Claude Resources | 106,602,364.80 | GFT.WT | 05-Jul-10 | CBK.WT | -2.99 | CRP.WT | 51.52 | FIT.WT.A | 0.1 | MPM.WT | 54.3% | FFI.WT | 0.52 | $0.97 | Bargain | ||||||
| the actual trading price | Ceres Global Ag Corp | 83,034,655.20 | MPM.WT | 10-Jul-10 | CIW.WT.A | -3.07 | CBB.WT | 44 | CPM.WT.A | 0.1 | HAY.WT | 53.2% | FGX.WT | 0.52 | $0.97 | Bargain | ||||||
| of the common stock. | Colossus Minerals | 180,938,422.49 | FTF.WT | 30-Jul-10 | CBK.WT.A | -3.09 | RIT-WT.TO | 38.86 | OGE.WT | 0.105 | FRE.WT | 49.2% | OGN.WT | 0.055 | $0.10 | Bargain | ||||||
| Once the common has | Copper Mountain | 20,872,501.32 | GBP.WT.A | 31-Jul-10 | COX.WT | -3.55 | CBK.WT.A | 36.31 | FRE.WT | 0.11 | EPD.WT | 48.7% | RIT-WT.TO | 0.185 | $0.33 | Bargain | ||||||
| gone over the exercise | Copper Mesa Mining | 3,127,754.67 | OCF.WT | 31-Jul-10 | FIT.WT.A | -3.7 | CPM.WT.A | 35 | CRP.WT | 0.125 | EDV.WT.A | 44.4% | XHM.WT | 0.09 | $0.16 | Bargain | ||||||
| price the warrants are | Crosshair Exploration & Mining Corp | 30,668,208.76 | DPF.WT | 13-Aug-10 | PNP.WT.A | -4.08 | FIT.WT.A | 34.5 | PNP.WT | 0.16 | GUR.WT | 41.9% | CBK.WT.A | 0.065 | $0.10 | Bargain | ||||||
| said to be 'in the money'. | Davie Yards | 16,204,006.00 | CIW.WT.A | 31-Aug-10 | OGE.WT | -4.25 | COX.WT | 21.1 | OGO.WT | 0.165 | GRE.WT | 39.6% | SCP.WT | 0.4 | $0.59 | Undervalued | ||||||
| Dioro Exploration | 54,032,441.90 | TRT.WT | 10-Oct-10 | CPM.WT.A | -4.25 | FAY-WT.TO | 20.16 | RIT-WT.TO | 0.185 | SCP.WT | 37.6% | AAB.WT | 0.075 | $0.09 | Undervalued | |||||||
| Volatility | Denison Mines | 465,653,554.90 | EPD.WT | 12-Nov-10 | CMP.WT.A | -4.3 | OCF.WT | 17.27 | BRK.WT | 0.21 | UF.WT | 33.7% | COX.WT | 0.365 | $0.37 | Fair Market Value | ||||||
| The higher the volatility | DPF India Opportunities Fund | 118,574,400.00 | AGB.WT | 30-Nov-10 | UF.WT | -4.34 | FGX.WT | 15.37 | TRF-WT.TO | 0.27 | FFI.WT | 31.9% | CMP.WT.A | 0.83 | $0.81 | Fair Market Value | ||||||
| rating the higher the price | Dundee Precious Metals | 185,327,022.20 | CRP.WT | 21-Dec-10 | OCF.WT | -4.55 | FGX.WT | 15.37 | PNP.WT.A | 0.285 | GFT.WT | 30.8% | CGL.WT | 0.67 | $0.64 | Fair Market Value | ||||||
| of the warrant will be. | ECU Silver Mining Inc. | 212,324,563.00 | OGE.WT | 31-Dec-10 | HAY.WT | -4.71 | PNP.WT | 15.13 | OCF.WT | 0.33 | FTF.WT | 30.3% | EDV.WT.A | 0.53 | $0.51 | Fair Market Value | ||||||
| A measure of actual | Endeavour Financial | 165,151,704.38 | SCP.WT | 31-Dec-10 | RF.WT | -4.75 | CNM.WT | 15 | COX.WT | 0.365 | TCP.WT | 27.2% | CBB.WT | 0.03 | $0.03 | Fair Market Value | ||||||
| stock price changes over | Etruscan Resources | 40,581,188.33 | CMP.WT.A | 25-Jan-11 | AGB.WT | -5.5 | FFI.WT | 14.04 | SCP.WT | 0.4 | OGE.WT | 25.7% | ASF.WT | 0.01 | $0.01 | Overvalued | ||||||
| a specific period of time. | EarthFirst | 2,066,076.36 | TCP.WT | 28-Feb-11 | EPD.WT | -5.8 | CGL.WT | 14 | FGX.WT | 0.52 | XHM.WT | 25.7% | CPM.WT.A | 0.1 | $0.08 | Overvalued | ||||||
| Historical volatility is | EMC Metals | 7,885,618.66 | COX.WT | 31-May-11 | PME.WT | -6.6 | MPM.WT | 12.17 | FFI.WT | 0.52 | CMP.WT.A | 25.0% | CIW.WT | 0.03 | $0.02 | Overvalued | ||||||
| calculated by using the | European Premium Dividend | 12,537,420.00 | RF.WT | 30-Sep-11 | FTF.WT | -6.75 | CMP.WT.A | 9.28 | FGX.WT | 0.52 | CMP.WT.B | 25.0% | HAY.WT | 0.07 | $0.03 | Very Overvalued | ||||||
| standard deviation of an | Erdene Gold | 24,984,645.56 | CNM.WT | 28-Feb-12 | CRP.WT | -7.06 | TCP.WT | 9.08 | EDV.WT.A | 0.53 | CGL.WT | 25.0% | FTF.WT | 0.005 | $0.00 | Very Overvalued | ||||||
| underlying stock price. | First Asset Pipes & Power... | 45,477,353.60 | PNP.WT | 16-Apr-12 | GUR.WT | -7.15 | TRT.WT | 9 | MPM.WT | 0.58 | FAY-WT.TO | 22.2% | GBP.WT | 0.02 | $0.00 | Very Overvalued | ||||||
| First Asset Yield Opportunity... | 70,711,068.60 | AAB.WT | 06-Jun-12 | GBP.WT | -7.26 | PNP.WT.A | 8.49 | CGL.WT | 0.67 | RF.WT | 21.6% | GUR.WT | 0.05 | $0.00 | Very Overvalued | |||||||
| In the Money | Fortress Energy Inc | 7,807,318.52 | PNP.WT.A | 23-Oct-12 | CMP.WT.B | -7.3 | SCP.WT | 8.15 | PNP.WT.B | 0.71 | RIT-WT.TO | 20.6% | UF.WT | 0.06 | $0.00 | Very Overvalued | ||||||
| When the price of the | Flaherty & Crumrine | 48,066,039.70 | CMP.WT.B | 25-Jan-13 | DPF.WT | -7.7 | BRK.WT | 4.48 | FAY-WT.TO | 0.76 | OGO.WT | 18.8% | CBK.WT | 0.005 | $0.00 | Very Overvalued | ||||||
| common is higher than | Faircourt Gold Income | 18,744,540.00 | PNP.WT.B | 11-Jul-13 | ASF.WT | -8.55 | AAB.WT | 4.33 | CMP.WT.A | 0.83 | EWP-WT.TO | 18.8% | PME.WT | 0.005 | $0.00 | Very Overvalued | ||||||
| the exercise price | Int'l Fin. Income and Growth Trust | 5,083,630.20 | EDV.WT.A | 04-Feb-14 | CBB.WT | -8.68 | PNP.WT.B | 3.41 | TCP.WT | 1.2 | COX.WT | 18.5% | URB.WT.A | 0.01 | $0.00 | Very Overvalued | ||||||
| Franco-Nevada | 3,009,000,000.00 | BRK.WT | 27-May-14 | PNP.WT | -12.58 | EDV.WT.A | 3.19 | CMP.WT.B | nt | OGN.WT | 14.0% | CMP.WT.B | nt | $1.40 | Not Trading | |||||||
| At the Money | First Majestic Silver Corp | 212,441,420.88 | ||||||||||||||||||||
| When the price of the | Front Street Resource Perf. Fund | 68,587,952.07 | ||||||||||||||||||||
| underlying is equivalent | Fortune Minerals | 29,441,556.71 | ||||||||||||||||||||
| or close to the strike price. | Focused Global Trends Fund | 14,419,438.25 | ||||||||||||||||||||
| Goldcorp | 29,571,931,427.92 | |||||||||||||||||||||
| Exercise ratio | Great Basin | 54,111,008.00 | ||||||||||||||||||||
| The number of warrants | Global Banks Premium Income Trust | 13,657,832.63 | ||||||||||||||||||||
| related to one share and | Distinction Group | 54,794,772.00 | ||||||||||||||||||||
| specifies the amount of | CC&L Global Financials Fund II | 56,943,819.12 | ||||||||||||||||||||
| underlying that the owner | Gold Wheaton | 442,855,875.42 | ||||||||||||||||||||
| of a single warrant is | Geovic Mining Corp | 66,886,745.90 | ||||||||||||||||||||
| entitled to buy. | Sentry Select Global Real Estate | 17,762,061.75 | ||||||||||||||||||||
| Global Uranium | 25,652,760.40 | |||||||||||||||||||||
| Time Value | Stone Agribusiness | 23,889,094.94 | ||||||||||||||||||||
| The time value is the | High Desert Gold Corp | 1,078,569.60 | ||||||||||||||||||||
| difference between the | High River Gold Mines | 135,744,544.79 | ||||||||||||||||||||
| current warrant price | I C S Copper Systems Ltd | 57,347,767.17 | ||||||||||||||||||||
| and its intrinsic value. | Ivanhoe Energy | 92,195,791.71 | ||||||||||||||||||||
| The time value is to be | I M A Exploration | 23,980,749.44 | ||||||||||||||||||||
| interpreted as the | Kinross | 14,394,698,004.21 | ||||||||||||||||||||
| consideration paid for | Katanga Mining | 156,785,311.88 | ||||||||||||||||||||
| the advantage that the | Labrador Iron Mines | 58,694,552.58 | ||||||||||||||||||||
| warrant buyer has over | Added Capital | 15,915,314.50 | ||||||||||||||||||||
| the direct investor. It | Marathon PGM | 28,366,267.20 | ||||||||||||||||||||
| is greatest when the | Melco China Resorts (Holding) Ltd. | 5,683,557.36 | ||||||||||||||||||||
| warrants are 'at the money' | Metrobridge Networks | 2,189,870.56 | ||||||||||||||||||||
| but decreases as the | Mega Uranium | 355,787,790.80 | ||||||||||||||||||||
| exercise date draws closer. | Mines Management | 47,994,524.20 | ||||||||||||||||||||
| The decreased value is | Mercator Minerals Ltd | 180,618,586.14 | ||||||||||||||||||||
| called time decay and | Markland AGF Precious Metals... | 13,573,287.72 | ||||||||||||||||||||
| decreases at a faster | Metanor Resources | 39,478,891.00 | ||||||||||||||||||||
| pace as the expiry date | Norbord | 656,257,504.16 | ||||||||||||||||||||
| draws closer. | New Gold Inc. | 638,522,238.00 | ||||||||||||||||||||
| Northrock Resources | 888,437.23 | |||||||||||||||||||||
| Oilsands Canada Corp | 13,823,856.60 | |||||||||||||||||||||
| Oroco Resource Corp | 5,794,639.41 | |||||||||||||||||||||
| O'Leary Global Equity Income | 28,468,346.25 | |||||||||||||||||||||
| O'Leary Global Infrastructure | 52,790,800.00 | |||||||||||||||||||||
| O'Leary Global Income Opp Fund | 107,932,500.00 | |||||||||||||||||||||
| Osisko Exploration | 1,760,796,820.50 | |||||||||||||||||||||
| Orsu Metals | 52,521,561.11 | |||||||||||||||||||||
| Olympus Pacific Minerals Inc | 72,041,793.11 | |||||||||||||||||||||
| North American Palladium Ltd. | 242,947,776.40 | |||||||||||||||||||||
| Phoenix Coal Inc. | 41,252,273.70 | |||||||||||||||||||||
| Primary Petroleum | 2,960,876.76 | |||||||||||||||||||||
| Polaris Minerals | 154,293,345.80 | |||||||||||||||||||||
| Sentry Select Primary Metals | 85,982,844.60 | |||||||||||||||||||||
| Pinetree Capital | 317,779,850.96 | |||||||||||||||||||||
| Petro Rubiales Energy | 1,730,544,121.20 | |||||||||||||||||||||
| ProSep | 16,110,862.75 | |||||||||||||||||||||
| Quadra Mining | 852,384,059.10 | |||||||||||||||||||||
| Redcorp Ventures | 3,983,561.71 | |||||||||||||||||||||
| CA Bancorp Cdn Realty Fin. Corp | 67,686,740.00 | |||||||||||||||||||||
| First Asset REIT Income Fund | 91,038,140.68 | |||||||||||||||||||||
| Rusoro Mining | 188,343,020.93 | |||||||||||||||||||||
| Ranaz Corp | 7,217,170.20 | |||||||||||||||||||||
| Rye Patch Gold | 11,491,857.00 | |||||||||||||||||||||
| Sprott Resource Corp | 266,952,350.24 | |||||||||||||||||||||
| Silver Wheaton | 3,337,385,069.61 | |||||||||||||||||||||
| Sandstorm Resources Ltd. | 8,696,160.00 | |||||||||||||||||||||
| Thompson Creek Metals | 1,359,456,217.84 | |||||||||||||||||||||
| Trident Performance Corp | 34,622,149.60 | |||||||||||||||||||||
| Tembec | 61,000,000.00 | |||||||||||||||||||||
| First Asset Energy & Resource... | 22,802,967.40 | |||||||||||||||||||||
| TriNorth Capital Inc. | 6,783,629.27 | |||||||||||||||||||||
| Terrane Metals | 41,317,452.50 | |||||||||||||||||||||
| Uranium Focused | 62,578,486.02 | |||||||||||||||||||||
| Urbana | 100,650,000.00 | |||||||||||||||||||||
| U S Gold | 218,492,908.00 | |||||||||||||||||||||
| Visible Gold Mines | 3,298,090.77 | |||||||||||||||||||||
| Western Canada Coal | 346,031,292.75 | |||||||||||||||||||||
| Star Hedge Managers Corp | 64,500,000.00 | |||||||||||||||||||||
| Yukon-Nevada Gold | 45,208,314.45 | |||||||||||||||||||||
| Yamana Gold | 8,721,724,664.10 | |||||||||||||||||||||
| Zazu Metals Corp | 8,432,537.03 | |||||||||||||||||||||
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(1). (2).
(3) see Notes
Good sites for US warrants
are:
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