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 94 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
Mobile

Warrant Sheets for Companies as of May 27th 2011

***opinions based on calculations only****

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

              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 Aberdeen International   OCB.WT 31-May-11   FNV.WT.A -37.89   RF.WT 4420   RF.WT 0.005   AHX.WT 224.6%   RF.WT 0.005 $0.31 Bargain
The last day the warrants  Adherex Technologies   COX.WT 31-May-11   FNV.WT.B -27.16   EDV.WT.C 2446.35   VZX.WT 0.005   REC.WT 205.0%   CNM.WT 0.015 $0.30 Bargain
can be exercised. If Agnico-Eagle   VST.WT 5-Jun-11   K.WT.C -16.24   OCB.WT 2348   XMF.WT.A 0.005   XMF.WT.A 204.5%   GPF.WT.A 0.05 $0.70 Bargain
warrants aren't being  Ainsworth Lumber Co Ltd   ABK.WT 6-Jun-11   EDV.WT.C -14.78   OBF.WT 2250   CCJ.WT.B 0.005   YNG.WT 168.6%   OUS.WT 0.075 $1.01 Bargain
exercised then they Air Canada cl A   RTU.WT 8-Jun-11   XMF.WT.A -12.15   COX.WT 1910   OBF.WT 0.005   AA.WT 161.2%   XYM.WT 0.01 $0.12 Bargain
must be sold the day  Air Canada cl B   G.WT.G 9-Jun-11   PNP.WT -12.05   XYM.WT 1100   URB.WT.B 0.005   SFF.WT 132.8%   PIC.WT 0.05 $0.45 Bargain
before the expiry date. Alange Energy Corp   FEI.WT 20-Jun-11   YCM.WT.A -11.44   PPF.WT 433.5   OCB.WT 0.005   CNM.WT 123.0%   GCI.WT 0.075 $0.67 Bargain
The longer the time to  Allbanc Split Corp.    FSS.WT 30-Jun-11   ANS.WT -9.11   ABK.WT 369.88   GMC.WT 0.005   VZX.WT 117.8%   YNG.WT 0.015 $0.13 Bargain
expiry the more Andina Minerals Inc   OBF.WT 30-Jun-11   CCJ.WT.A -8.21   URB.WT.B 284   CCJ.WT.A 0.005   PDL.WT.B 115.5%   HCF.WT 0.09 $0.69 Bargain
valuable the warrants. Argonaut Gold Ltd   BSC.WT 7-Jul-11   TMB.WT -7.79   SIN.WT 252.73   CMT.WT 0.005   BPV.WT.A 115.1%   LRT.WT.A 0.02 $0.15 Bargain
  ARISE Technologies Corp   FGX.WT.C 29-Jul-11   KAT.WT -6.78   FSS.WT 245.75   COX.WT 0.005   BPV.WT 115.1%   VZX.WT 0.005 $0.03 Bargain
Leverage ARISE Technologies Corp   DNA.WT 29-Jul-11   K.WT.B -6.73   GPF.WT.A 244   EMC.WT 0.005   CCJ.WT.B 110.7%   HGI.WT 0.06 $0.37 Bargain
The leverage of a warrant Astral Mining Corp   SCI.WT 4-Aug-11   DPM.WT -6.72   PIC.WT 235   FEI.WT 0.005   CCJ.WT.A 110.7%   MOB.WT 0.06 $0.35 Bargain
is a measure of how much Augen Gold Cor   EDV.WT.C 7-Aug-11   MGA.WT.A -5.8   HGI.WT 185   FEI.WT.A 0.005   TMD.WT 110.5%   ABK.WT 0.17 $0.81 Bargain
you can increase your Avalon Rare Metals Inc   GPD.WT 15-Aug-11   NGD.WT.A -5.18   CTF.WT 172.67   XYM.WT 0.01   VST.WT 108.8%   XMF.WT.A 0.005 $0.02 Bargain
exposure to a share if Bankers Petroleum   EMC.WT 15-Aug-11   NGD.WT.B -5.18   GCI.WT 147.47   REC.WT 0.01   ROZ.WT 105.4%   SIN.WT 0.055 $0.26 Bargain
you bought warrants Banro Corp   CCJ.WT.A 17-Aug-11   MGA.WT -4.9   GMF.WT 134.71   GMC.WT.B 0.01   CMT.WT 98.8%   CCJ.WT.B 0.005 $0.02 Bargain
instead of making a Bennett Environmental Inc   RBN.WT.A 25-Aug-11   GMC.WT.B -4.52   OUS.WT 134.67   EDV.WT.C 0.01   NQ.WT 98.2%   PWC.WT 0.15 $0.52 Bargain
direct investment. It is  Blue Ribbon   GTE.WT 28-Aug-11   K.WT.D. -4.39   HCF.WT 133.33   CNM.WT 0.015   APV.WT.A 92.9%   FEO.WT.A 0.07 $0.24 Bargain
calculated dividing the  BNS Split Corp II   K.WT.B 7-Sep-11   RML.WT -3.76   EIT.WT.A 97.48   YNG.WT 0.015   APV.WT 92.9%   GMF.WT 0.085 $0.27 Bargain
current share price by Breakwater Resources   PGM.WT 11-Sep-11   P.WT -3.55   GMC.WT 97   LRT.WT.A 0.02   GLD.WT 91.2%   PDL.WT.B 0.165 $0.52 Bargain
the current price of the  Brick Group   GPF.WT.A 15-Sep-11   PNP.WT.A -3.55   RBN.WT.A 94.75   PPF.WT 0.02   GCM.WT 90.9%   PPF.WT 0.02 $0.06 Bargain
warrant. Bridgeport Ventures Inc   SIN.WT 15-Sep-11   MGT.WT.U -3.53   CNM.WT 87.33   AHX.WT 0.02   LRT.WT.A 90.8%   REC.WT 0.01 $0.03 Bargain
  Bridgeport Ventures Inc   BAA.WT 17-Sep-11   NOT.WT -3.22   KAT.WT 86   GMC.WT.A 0.02   LRT.WT 90.8%   IVA.WT 0.07 $0.19 Bargain
Intrinsic Value Brigus Gold Corp   IVA.WT 20-Sep-11   PVG.WT -2.9   XMF.WT.A 70   RML.WT 0.02   USA.WT 90.3%   RBN.WT.A 0.12 $0.31 Bargain
The difference between  Brigus Gold Corp   EIT.WT.A 20-Sep-11   GTE.WT -2.77   K.WT.B 63.71   KAT.WT 0.02   USO.WT 90.3%   BPV.WT.A 0.07 $0.17 Bargain
the exercise price and C A Bancorp Cdn Rlty Fin Corp   CMT.WT 25-Sep-11   PDL.WT.B -2.69   PNP.WT 59   CTF.WT 0.03   SND.WT 88.6%   TAB.WT 0.1 $0.24 Bargain
the actual trading price  Calvista Gold Corp.   RF.WT 30-Sep-11   GMC.WT.A -2.52   EMC.WT 54   NTC.WT 0.035   EW.WT 87.9%   TMD.WT 0.7 $1.63 Bargain
of the common stock. Canada Lithium Corp.   AVL.WT 30-Sep-11   YNG.WT -2.51   GMC.WT.B 48.5   MGA.WT 0.035   EDR.WT 87.0%   MND.WT 0.3 $0.64 Bargain
Once the common has  Canadian Income Mgmt Tr   CLQ.WT 30-Sep-11   EMC.WT -2.41   BSC.WT 46.82   FSS.WT 0.04   TAB.WT 85.2%   AHX.WT 0.02 $0.04 Bargain
gone over the exercise Canadian Res Income Trust   FEI.WT.A 30-Sep-11   CCJ.WT.B -2.31   IVA.WT 45   APV.WT.A 0.04   BWR.WT.A 84.6%   FEO.WT.B 0.1 $0.20 Bargain
price the warrants are  Canadian Western Bank   EDR.WT 7-Oct-11   GMC.WT -2.27   FGX.WT.C 39.6   VST.WT 0.04   RED.WT 83.7%   RPG.WT 0.105 $0.20 Bargain
said to be 'in the money'. Canoe Go Canada Income Fund   GMF.WT 14-Oct-11   VGZ.WT.S -2.1   CCJ.WT.B 38   APV.WT 0.04   PAU.WT 82.0%   AA.WT 0.095 $0.17 Bargain
  Caza Gold Corp   TID.WT 16-Oct-11   MRS.WT -2.09   CCJ.WT.A 38   MTO.WT 0.04   ECU.WT 81.9%   TID.WT 0.1 $0.18 Bargain
Volatility Chesapeake Gold   VGZ.WT.S 22-Oct-11   FRO.WT -2   CMT.WT 36   PGM.WT 0.04   FRN.WT 81.7%   LRT.WT 0.065 $0.11 Bargain
The higher the volatility  Citadel Income Fund   TCM.WT 27-Oct-11   FEI.WT -1.96   YNG.WT 32.67   GTE.WT 0.04   MND.WT 80.2%   SFF.WT 0.075 $0.13 Bargain
rating the higher the price Claude Resources   PDL.WT.B 28-Oct-11   GAA.WT.A -1.7   FNV.WT.B 31.2   YCM.WT.A 0.04   PWC.WT 78.6%   EIT.WT.A 0.155 $0.24 Bargain
of the warrant will be. CMP Gold Trust   XYM.WT 31-Oct-11   COX.WT -1.7   MOB.WT 30   PMI.WT.A 0.045   CLQ.WT 77.3%   SND.WT 0.13 $0.20 Bargain
A measure of actual  Coalcorp Mining   MRS.WT 3-Nov-11   RF.WT -1.65   TMB.WT 27.16   GPF.WT.A 0.05   FEO.WT.A 77.1%   EW.WT 0.15 $0.22 Undervalued
stock price changes over  Coalcorp Mining   GMC.WT 3-Nov-11   GCM.WT -1.6   YCM.WT.A 26.5   PIC.WT 0.05   FEO.WT.B 77.1%   FRN.WT 0.18 $0.27 Undervalued
a specific period of time.  Commerce Split Corp unit   TAO.WT 5-Nov-11   VGZ.WT.S -1.6   PGM.WT 24.25   NGD.WT.B 0.05   GMC.WT.A 76.7%   TXG.WT 0.4 $0.59 Undervalued
Historical volatility is  Compton Petroleum Corp   URB.WT.B 10-Nov-11   CMP.WT.B -1.55   GMC.WT.A 24.25   PTA.WT 0.05   GMC.WT.B 76.7%   BSC.WT 1.1 $1.59 Undervalued
calculated by using the  Continental Gold   TXG.WT 12-Nov-11   BEV.WT -1.48   PDL.WT.B 23.09   MRS.WT 0.05   GMC.WT 76.7%   NQ.WT 0.5 $0.71 Undervalued
standard deviation of an Coxe Commodity Strategy Fund   KAT.WT 20-Nov-11   CRK.WT -1.43   GTE.WT 21.41   PTA.WT.A 0.05   EMC.WT 76.5%   P.WT 1.03 $1.45 Undervalued
underlying stock price. Crocodile Gold   HCF.WT 30-Nov-11   RNX.WT -1.42   DNA.WT 20.25   PNP.WT 0.05   FT.WT.A 76.3%   CMP.WT.B 1.61 $2.26 Undervalued
  Dalradian Resources Inc   PPF.WT 30-Nov-11   CMT.WT -1.37   NGD.WT.B 19.64   MGA.WT.A 0.05   RPG.WT 76.1%   CRK.WT 0.185 $0.26 Undervalued
In the Money Dundee Precious Metals   REC.WT 30-Nov-11   PPF.WT -1.33   VZX.WT 17   SIN.WT 0.055   WRN.WT 76.0%   GAA.WT.A 0.75 $1.02 Undervalued
When the price of the  Dundee Precious Metals   CTF.WT 2-Dec-11   PAK.WT -1.33   G.WT.G 15.62   HGI.WT 0.06   MRS.WT 75.7%   GAA.WT 1.25 $1.68 Undervalued
common is higher than  East West Petroleum Corp   FT.WT.A 3-Dec-11   CNM.WT -1.29   SCI.WT 15.17   MOB.WT 0.06   MTO.WT 73.1%   K.WT.D. 2.73 $3.64 Undervalued
the exercise price ECU Silver Mining Inc   PIC.WT 15-Dec-11   NBD.WT -1.16   BEV.WT 15.13   LRT.WT 0.065   MGT.WT.U 72.5%   PAU.WT 0.13 $0.17 Undervalued
  EMC Metals Corp   XRG.WT 21-Dec-11   VGZ.WT.S -1.1   MGA.WT 14.29   FEO.WT.A 0.07   DNA.WT 71.9%   CTF.WT 0.03 $0.04 Undervalued
At the Money Endeavour Financial   MFL.WT 31-Dec-11   ZAZ.WT -1.1   LRT.WT.A 14   IVA.WT 0.07   ALE.WT 70.3%   FGX.WT.C 0.25 $0.33 Undervalued
When the price of the  Endeavour Mining Corp   OUS.WT 16-Jan-12   ADM.WT -1.09   DPM.WT 13.8   BPV.WT.A 0.07   YCM.WT.A 70.2%   MB.WT 0.17 $0.22 Undervalued
underlying is equivalent Endeavour Silver Corp   GCI.WT 30-Jan-12   URB.WT.B -1.08   RTU.WT 13.19   SBI.WT 0.07   ST.WT 68.4%   FGX.WT.B 1.85 $2.36 Undervalued
or close to the strike price. EnerVest Diversified Income Trust   MGA.WT 12-Feb-12   PGM.WT -1.03   TID.WT 13   OUS.WT 0.075   RML.WT 68.4%   BPV.WT 0.32 $0.39 Undervalued
  Ethiopian Potash   ML.WT 16-Feb-12   XYM.WT -1   K.WT.C 12.81   GCI.WT 0.075   PCT.WT 67.9%   XRG.WT 0.7 $0.85 Undervalued
Exercise ratio Faircourt Gold Income   CKG.WT 23-Feb-12   GCI.WT -0.94   PWC.WT 12.67   SFF.WT 0.075   TIC.WT 67.9%   ALE.WT 0.075 $0.09 Undervalued
The number of warrants  Faircourt Gold Income   CNM.WT 28-Feb-12   ML.WT -0.94   RML.WT 12   ALE.WT 0.075   MGA.WT.B 67.0%   FSS.WT 0.04 $0.05 Undervalued
related to one share and Feronia Inc   XMF.WT.A 28-Feb-12   HGI.WT -0.9   VST.WT 11.25   DNA.WT 0.08   MGA.WT 67.0%   WRN.WT 1.1 $1.32 Undervalued
specifies the amount of  Formation Metals   YCM.WT.A 28-Feb-12   PWC.WT -0.9   MRS.WT 11.07   GMF.WT 0.085   MGA.WT.A 67.0%   ST.WT 0.35 $0.42 Undervalued
underlying that the owner Fortress Energy Inc   TMB.WT 29-Feb-12   FCO.WT -0.88   PVG.WT 10.67   YEL.WT 0.085   CRJ.WT 66.9%   FT.WT.A 0.6 $0.71 Undervalued
of a single warrant is  Fortress Energy Inc   BNK.WT.A 1-Mar-12   BPV.WT.A -0.87   MGA.WT.A 10   HCF.WT 0.09   AVL.WT 66.8%   AR.WT 1.55 $1.82 Undervalued
entitled to buy. Fortune Minerals Ltd.   GMC.WT.A 6-Mar-12   EW.WT -0.87   PNP.WT.A 9.83   PCT.WT 0.09   GPD.WT 66.2%   GAA.WT 1.25 $1.47 Undervalued
  Franco-Nevada   FNV.WT 13-Mar-12   GPF.WT.A -0.82   NTC.WT 9.43   AA.WT 0.095   XRG.WT 62.6%   CZY.WT 0.115 $0.13 Undervalued
Time Value Franco-Nevada   HGI.WT 30-Mar-12   GAA.WT -0.77   ADM.WT 9.28   TAB.WT 0.1   KSK.WT 62.5%   CRJ.WT 0.95 $1.09 Undervalued
The time value is the  Franco-Nevada   NGD.WT.B 3-Apr-12   RN.WT -0.77   REC.WT 9.00   FEO.WT.B 0.1   CRK.WT 61.6%   ROZ.WT 0.8 $0.92 Undervalued
difference between the Front Str Strategic Yield   PVG.WT 8-Apr-12   OBF.WT -0.75   FEI.WT 9   TID.WT 0.1   PGM.WT 60.5%   WLT.WT 9.5 $10.84 Undervalued
current warrant price  Frontier Rare Earths Ltd   PNP.WT 16-Apr-12   MTO.WT -0.74   FEI.WT.A 9   USO.WT 0.1   ZAZ.WT 59.7%   NGD.WT.A 2.75 $3.09 Undervalued
and its intrinsic value. Gazit America In   MGT.WT.U 20-Apr-12   LRT.WT -0.72   CMP.WT.B 8.35   RPG.WT 0.105   PTA.WT 59.2%   BRK.WT 1.56 $1.73 Undervalued
The time value is to be  Gazit America In   GMC.WT.B 27-Apr-12   KSK.WT -0.71   GAA.WT.A 7.73   K.WT.B 0.11   PTA.WT.A 59.2%   CWB.WT 16.2 $17.91 Undervalued
interpreted as the Gazit America Inc.   RED.WT 29-Apr-12   BRD.WT -0.7   PMI.WT.A 7.67   CZY.WT 0.115   FCO.WT 59.0%   AEM.WT.U 22.28 $24.55 Undervalued
consideration paid for  Geovic Mining Corp   BEV.WT 7-May-12   BRD.WT.A -0.69   BPV.WT.A 7.57   RBN.WT.A 0.12   PNP.WT.B 57.9%   DPM.WT.A 5.35 $5.89 Undervalued
the advantage that the Geovic Mining Corp   MTO.WT 15-May-12   DNA.WT -0.63   RNX.WT 7.35   RED.WT 0.12   PNP.WT.A 57.9%   G.WT.G 3.13 $3.38 Fair Market Value
warrant buyer has over  Geovic Mining Corp   CZY.WT 22-May-12   VGZ.WT.S -0.6   ANS.WT 7.23   ADM.WT 0.125   PNP.WT 57.9%   BWR.WT.A 0.485 $0.52 Fair Market Value
the direct investor. It Global Adv Tele&Utilities Inc Fd   ROZ.WT 28-May-12   CVZ.WT -0.59   FRO.WT 7.22   SND.WT 0.13   SBI.WT 57.3%   SBI.WT 0.07 $0.08 Fair Market Value
is greatest when the  GMIncome & Growth Fund    PMI.WT.A 28-May-12   MGA.WT.B -0.58   TAB.WT 7   PAU.WT 0.13   FED.WT 57.1%   SLW.WT.U 18.6 $19.78 Fair Market Value
warrants are 'at the money' Gold Participation and Income Fund   ADM.WT 2-Jun-12   PTA.WT -0.58   SBI.WT 6.86   PWC.WT 0.15   YEL.WT 57.1%   VGZ.WT.S 0.98 $1.04 Fair Market Value
but decreases as the Goldcorp   AAB.WT 6-Jun-12   FEO.WT.B -0.57   MTO.WT 6.5   EW.WT 0.15   VGZ.WT.S 56.6%   FNV.WT 6.3 $6.58 Fair Market Value
exercise date draws closer. Golden Predator   MGA.WT.A 6-Jun-12   GMF.WT -0.55   FEO.WT.A 6.14   AAB.WT 0.15   VGZ.WT.S 56.6%   ML.WT.A 2.07 $2.14 Fair Market Value
The decreased value is  Gran Colombia Gold Corp   TAB.WT 11-Jun-12   PNP.WT.B -0.55   XRG.WT 6.03   CVZ.WT 0.15   VGZ.WT.S 56.6%   AVL.WT 3.86 $3.93 Fair Market Value
called time decay and  Gran Tierra Energy   APV.WT 11-Jun-12   YEL.WT -0.55   GPD.WT 6   ILC.WT 0.15   VGZ.WT.S 56.6%   EDR.WT 6.14 $6.26 Fair Market Value
decreases at a faster  GT Canada   TIC.WT 15-Jun-12   AA.WT -0.53   FNV.WT.A 5.99   BEV.WT 0.15   BAA.WT 56.4%   BAA.WT 1.16 $1.17 Fair Market Value
pace as the expiry date Harvest Canadian Inc & Gr Fund   YNG.WT 20-Jun-12   FEI.WT.A -0.51   FNV.WT 5.89   EIT.WT.A 0.155   MB.WT 56.4%   MFL.WT 8.28 $8.25 Fair Market Value
draws closer. International Lithium   WLT.WT 28-Jun-12   LQD.WT -0.48   EW.WT 5.87   TMB.WT 0.155   RNX.WT 56.3%   SSL.WT 0.5 $0.50 Fair Market Value
  Ivanhoe Australia   DPM.WT 29-Jun-12   LRT.WT.A -0.47   K.WT.D. 5.77   PDL.WT.B 0.165   TID.WT 56.1%   BNK.WT.A 5.68 $5.65 Fair Market Value
  Katanga Mining   MND.WT 6-Aug-12   MOB.WT -0.45   ML.WT 5.77   ABK.WT 0.17   P.WT 56.0%   CKG.WT 4.59 $4.53 Fair Market Value
  Kinross   FED.WT 9-Sep-12   SFF.WT -0.45   AAB.WT 5.6   MB.WT 0.17   NTC.WT 55.3%   SCI.WT 0.48 $0.47 Fair Market Value
  Kinross   QUX.WT 10-Sep-12   NTC.WT -0.42   CVZ.WT 5.4   CLQ.WT 0.17   BRK.WT 55.1%   RED.WT 0.12 $0.12 Fair Market Value
  Kinross     CNL.WT 12-Sep-12   PTA.WT.A -0.41   FGX.WT.B 5.35   FRN.WT 0.18   KAT.WT 54.9%   USO.WT 0.1 $0.09 Fair Market Value
  Kiska Metals   VGZ.WT.S 22-Oct-12   TID.WT -0.39   TCM.WT 4.9   PMI.WT 0.18   AR.WT 52.2%   PVG.WT 0.9 $0.84 Fair Market Value
  Lanesborough REIT   PNP.WT.A 23-Oct-12   CTF.WT -0.37   RPG.WT 4.48   GPD.WT 0.18   AAB.WT 50.4%   TAO.WT 3.1 $2.89 Fair Market Value
  Lanesborough REIT   AC.WT 28-Oct-12   ALE.WT -0.29   AC.WT 4.45   CRK.WT 0.185   MFL.WT 50.3%   SSL.WT.A 0.43 $0.40 Fair Market Value
  Liquid Nutrition Group   AC.WT 28-Oct-12   SBI.WT -0.27   KSK.WT 4.45   FNV.WT.B 0.185   RN.WT 50.1%   CNL.WT 1.8 $1.63 Fair Market Value
  M Split Corp   FRO.WT 17-Nov-12   ST.WT -0.26   CRK.WT 4.43   GLD.WT 0.2   MOB.WT 50.0%   RTU.WT 1 $0.91 Fair Market Value
  Macusani Yellowcake   PTA.WT.A 19-Nov-12   PMI.WT.A -0.26   CZY.WT 4.43   KSK.WT 0.2   CVZ.WT 50.0%   PCT.WT 0.09 $0.08 Overvalued
  Manas Petroleum Corp   PWC.WT 25-Nov-12   GPD.WT -0.26   AC.WT 4.43   MNP.WT 0.2   ILC.WT 50.0%   PNP.WT.B 1 $0.90 Overvalued
  Mandalay Resources Corp   NGD.WT.C 28-Nov-12   OCB.WT -0.26   GAA.WT 4.35   PAK.WT 0.2   MNP.WT 50.0%   USA.WT 0.52 $0.47 Overvalued
  Medoro Resources Ltd   RML.WT 29-Nov-12   RPG.WT -0.25   GAA.WT 4.35   RNX.WT 0.215   LQD.WT 50.0%   GLD.WT 0.2 $0.18 Overvalued
  MEGA Brands Inc   SBI.WT 2-Dec-12   MNP.WT -0.25   P.WT 4.32   MGA.WT.B 0.215   PMI.WT 48.9%   ECU.WT 0.475 $0.42 Overvalued
  Mega Uranium   RNX.WT 16-Dec-12   APV.WT -0.24   LRT.WT 4.31   FGX.WT.C 0.25   PMI.WT.A 48.9%   AAB.WT 0.15 $0.13 Overvalued
  Mega Uranium   ZAZ.WT 19-Dec-12   FEO.WT.A -0.22   FEO.WT.B 4.3   FED.WT 0.27   CZY.WT 47.0%   GCM.WT 0.6 $0.51 Overvalued
  Mega Uranium   BPV.WT.A 20-Dec-12   IVA.WT -0.22   CNL.WT 4.25   MND.WT 0.3   ADM.WT 45.8%   NTC.WT 0.035 $0.03 Overvalued
  Mercator Minerals Ltd   SFF.WT 21-Dec-12   EDV.WT.A -0.22   QUX.WT 4.23   PNP.WT.A 0.3   SLW.WT.U 45.2%   TCM.WT 2.13 $1.83 Overvalued
  Mercator Minerals Ltd   EW.WT 22-Dec-12   CLQ.WT -0.18   TXG.WT 4.2   ZAZ.WT 0.3   PVG.WT 45.0%   AC.WT 0.51 $0.43 Overvalued
  Metanor Resources   WRN.WT 22-Dec-12   FSS.WT -0.17   SND.WT 4.08   BPV.WT 0.32   DPM.WT.A 43.8%   QUX.WT 3.5 $2.95 Overvalued
  Minefinders Corp   SND.WT 23-Dec-12   REC.WT -0.16   SFF.WT 4   NGD.WT.C 0.34   DPM.WT 43.8%   AC.WT 0.51 $0.42 Overvalued
  Mines Management    APV.WT.A 23-Dec-12   EIT.WT.A -0.16   PAK.WT 3.85   ST.WT 0.35   ANS.WT 43.8%   FCO.WT 0.35 $0.28 Overvalued
  New Gold Inc.   MOB.WT 24-Dec-12   PCT.WT -0.16   ZAZ.WT 3.83   FCO.WT 0.35   BRD.WT.A 43.7%   KSK.WT 0.2 $0.16 Overvalued
  New Gold Inc.   AR.WT 29-Dec-12   AAB.WT -0.16   CLQ.WT 3.65   FRO.WT 0.36   BRD.WT 43.7%   RNX.WT 0.215 $0.17 Overvalued
  New Gold Inc.   VZX.WT 5-Jan-13   PIC.WT -0.15   MGT.WT.U 3.63   TXG.WT 0.4   WLT.WT 43.4%   RN.WT 0.58 $0.45 Overvalued
  Norbord   CMP.WT.B 25-Jan-13   SND.WT -0.15   NGD.WT.A 3.57   ANS.WT 0.4   TAO.WT 43.1%   FED.WT 0.27 $0.21 Overvalued
  Noront Resources Ltd   ML.WT.A 29-Jan-13   USO.WT -0.15   EDV.WT.A 3.56   SSL.WT.A 0.43   SSL.WT 42.1%   MGA.WT.B 0.215 $0.16 Overvalued
  North American Palladium Ltd.   KSK.WT 23-Mar-13   SIN.WT -0.14   ST.WT 3.54   ECU.WT 0.475   SSL.WT.A 42.1%   NGD.WT.C 0.34 $0.25 Overvalued
  North American Tungsten   YEL.WT 25-Mar-13   QUX.WT -0.14   RED.WT 3.54   SCI.WT 0.48   TMB.WT 42.0%   CVZ.WT 0.15 $0.11 Overvalued
  Northquest Ltd    NTC.WT 31-Mar-13   VZX.WT -0.12   YEL.WT 3.53   BWR.WT.A 0.485   TXG.WT 41.9%   PNP.WT.A 0.3 $0.21 Overvalued
  Oceanic Iron Ore Corp   USO.WT 18-Apr-13   ECU.WT -0.12   PTA.WT 3.5   NQ.WT 0.5   NOT.WT 41.9%   VGZ.WT.S 0.98 $0.69 Overvalued
  Oceanic Iron Ore Corp   ST.WT 29-Apr-13   APV.WT.A -0.12   PTA.WT.A 3.5   SSL.WT 0.5   CNL.WT 39.3%   EDV.WT.A 0.64 $0.45 Overvalued
  O'Leary Adv Tact Gl Corp Bd Fd   CVZ.WT 11-May-13   PMI.WT -0.11   AR.WT 3.37   NBD.WT 0.5   QUX.WT 39.1%   TIC.WT 1.05 $0.72 Overvalued
  O'Leary BrIC-Plus Inc&Growth Fd   CRJ.WT 22-May-13   RED.WT -0.08   FCO.WT 3.2   NOT.WT 0.5   FRO.WT 39.1%   ILC.WT 0.15 $0.10 Overvalued
  Omega Advisors U.S. Cap App Fd   ILC.WT 24-May-13   VST.WT -0.05   FRN.WT 3.11   AC.WT 0.51   CKG.WT 38.0%   K.WT.C 1.23 $0.81 Overvalued
  Pacific & Western Credit Corp   CCJ.WT.B 5-Jun-13   AHX.WT -0.04   MND.WT 3.1   AC.WT 0.51   ML.WT.A 37.6%   PMI.WT 0.18 $0.12 Overvalued
  Papuan Precious Metals Corp   PAU.WT 5-Jul-13   FRN.WT -0.04   WRN.WT 3.1   USA.WT 0.52   ML.WT 37.6%   BRD.WT.A 0.59 $0.37 Overvalued
  Peregrine Metals   FNV.WT.B 8-Jul-13   WRN.WT -0.04   VGZ.WT.S 2.96   ML.WT 0.53   NGD.WT.A 37.0%   APV.WT.A 0.04 $0.02 Overvalued
  Petroamerica Oil Corp   PNP.WT.B 11-Jul-13   TAB.WT -0.03   VGZ.WT.S 2.96   MGT.WT.U 0.57   NGD.WT.C 37.0%   NGD.WT.B 0.05 $0.03 Overvalued
  Petroamerica Oil Corp   ANS.WT 29-Jul-13   PAU.WT -0.03   VGZ.WT.S 2.96   RN.WT 0.58   NGD.WT.B 37.0%   MNP.WT 0.2 $0.11 Overvalued
  Petromanas Energy In   K.WT.C 3-Sep-13   MB.WT -0.03   VGZ.WT.S 2.96   BRD.WT.A 0.59   IVA.WT 36.9%   VGZ.WT.S 0.98 $0.51 Overvalued
  Petromanas Energy Inc   SLW.WT.U 5-Sep-13   ILC.WT -0.03   PNP.WT.B 2.95   FT.WT.A 0.6   K.WT.D. 36.5%   DNA.WT 0.08 $0.04 Overvalued
  Pinetree Capital   FRN.WT 8-Sep-13   SSL.WT.A -0.01   TMD.WT 2.91   GCM.WT 0.6   K.WT.C 36.5%   DPM.WT 0.6 $0.29 Very Overvalued
  Pinetree Capital   VGZ.WT.S 22-Oct-13   TIC.WT -0.01   NGD.WT.C 2.89   DPM.WT 0.6   K.WT.B 36.5%   ZAZ.WT 0.3 $0.13 Very Overvalued
  Pinetree Capital   GAA.WT 30-Nov-13   HCF.WT 0   PAU.WT 2.88   EDV.WT.A 0.64   GPF.WT.A 35.8%   BRD.WT 0.84 $0.37 Very Overvalued
  Premium Income Corp    AEM.WT.U 2-Dec-13   FED.WT 0   ALE.WT 2.87   TMD.WT 0.7   CMP.WT.B 34.9%   PMI.WT.A 0.045 $0.02 Very Overvalued
  Pretium Resources   NBD.WT 24-Dec-13   XRG.WT 0.02   AEM.WT.U 2.85   XRG.WT 0.7   BNK.WT.A 33.7%   PTA.WT 0.05 $0.02 Very Overvalued
  Prima Colombia   EDV.WT.A 4-Feb-14   BPV.WT 0.03   BAA.WT 2.81   GAA.WT.A 0.75   GAA.WT.A 32.5%   CLQ.WT 0.17 $0.06 Very Overvalued
  Primero Mining Corp   ECU.WT 20-Feb-14   RBN.WT.A 0.04   MB.WT 2.79   ROZ.WT 0.8   GAA.WT 32.5%   NBD.WT 0.5 $0.17 Very Overvalued
  Propel Multi-Strategy Fund   CWB.WT 2-Mar-14   CZY.WT 0.06   FED.WT 2.78   BRD.WT 0.84   GAA.WT 32.5%   VST.WT 0.04 $0.01 Very Overvalued
  Quadra FNX Mining Ltd   FCO.WT 8-Mar-14   GLD.WT 0.06   CKG.WT 2.64   PVG.WT 0.9   BEV.WT 31.9%   FRO.WT 0.36 $0.12 Very Overvalued
  Ram Power Corp   BWR.WT.A 9-Apr-14   AC.WT 0.06   USO.WT 2.55   CRJ.WT 0.95   G.WT.G 31.3%   GPD.WT 0.18 $0.06 Very Overvalued
  RedWater Energy   GAA.WT.A 14-Apr-14   FGX.WT.C 0.07   RN.WT 2.55   VGZ.WT.S 0.98   AC.WT 31.2%   ML.WT 0.53 $0.15 Very Overvalued
  Reliant Gold Corp   SSL.WT 23-Apr-14   AC.WT 0.07   BRD.WT.A 2.54   VGZ.WT.S 0.98   TCM.WT 30.5%   ADM.WT 0.125 $0.03 Very Overvalued
  Rio Novo Gold Inc    MNP.WT 6-May-14   OUS.WT 0.1   NBD.WT 2.49   VGZ.WT.S 0.98   URB.WT.B 29.3%   FNV.WT.A 6.2 $1.47 Very Overvalued
  Rodinia Oil Corp   RPG.WT 19-May-14   ABK.WT 0.10   FT.WT.A 2.42   VGZ.WT.S 0.98   AC.WT 29.2%   VGZ.WT.S 0.98 $0.24 Very Overvalued
  Royal Nickel Corporation   BRK.WT 27-May-14   CNL.WT 0.15   APV.WT.A 2.38   RTU.WT 1   PAK.WT 29.2%   K.WT.B 0.11 $0.03 Very Overvalued
  Rusoro Mining   FGX.WT.B 30-Jun-14   GAA.WT 0.17   APV.WT 2.38   PNP.WT.B 1   EDV.WT.A 27.5%   YEL.WT 0.085 $0.02 Very Overvalued
  Sandstorm Metals   USA.WT 10-Jul-14   TMD.WT 0.19   TIC.WT 2.37   P.WT 1.03   EDV.WT.C 27.5%   PAK.WT 0.2 $0.04 Very Overvalued
  Sandstorm Resources Ltd.   K.WT.D. 17-Sep-14   SSL.WT 0.37   ILC.WT 2.33   TIC.WT 1.05   GTE.WT 27.0%   APV.WT 0.04 $0.01 Very Overvalued
  Sandstorm Resources Ltd.   AA.WT 7-Oct-14   SCI.WT 0.41   AA.WT 2.32   BSC.WT 1.1   AEM.WT.U 25.6%   BEV.WT 0.15 $0.03 Very Overvalued
  SCITI ROCS Trust   PTA.WT 8-Oct-14   USA.WT 0.41   CRJ.WT 2.31   WRN.WT 1.1   OUS.WT 25.0%   MRS.WT 0.05 $0.01 Very Overvalued
  SCITI Trust   BPV.WT 10-Oct-14   NQ.WT 0.42   MGA.WT.B 2.3   BAA.WT 1.16   FEI.WT 25.0%   MGT.WT.U 0.57 $0.08 Very Overvalued
  Seafield Resources   MGA.WT.B 26-Oct-14   ROZ.WT 0.47   ROZ.WT 2.25   K.WT.C 1.23   FEI.WT.A 25.0%   OBF.WT 0.005 $0.00 Very Overvalued
  Serabi Mining   GLD.WT 27-Oct-14   TXG.WT 0.55   SSL.WT.A 2.23   GAA.WT 1.25   GCI.WT 24.5%   MTO.WT 0.04 $0.00 Very Overvalued
  Silver Wheaton   BRD.WT.A 19-Nov-14   CRJ.WT 0.59   MNP.WT 2.23   GAA.WT 1.25   NBD.WT 18.5%   FNV.WT.B 0.185 $0.02 Very Overvalued
  Star Portfolio Corp   BRD.WT 19-Nov-14   MND.WT 0.6   PCT.WT 2.11   AR.WT 1.55   COX.WT 17.3%   PTA.WT.A 0.05 $0.01 Very Overvalued
  Stonegate Agricom Ltd   NOT.WT 16-Dec-14   FT.WT.A 0.65   TAO.WT 2.06   BRK.WT 1.56   ABK.WT 17.2%   ANS.WT 0.4 $0.03 Very Overvalued
  TAG Oil Ltd   NQ.WT 21-Dec-14   BSC.WT 0.66   AHX.WT 2   CMP.WT.B 1.61   FNV.WT 16.2%   URB.WT.B 0.005 $0.00 Very Overvalued
  Tembec   PMI.WT 23-Feb-15   AR.WT 0.73   AVL.WT 1.93   CNL.WT 1.8   FNV.WT.A 16.2%   PGM.WT 0.04 $0.00 Very Overvalued
  Thompson Creek Metals   LRT.WT 5-Mar-15   NGD.WT.C 0.82   SLW.WT.U 1.92   FGX.WT.B 1.85   FNV.WT.B 16.2%   GMC.WT.A 0.02 $0.00 Very Overvalued
  Titan Medical   RN.WT 8-Mar-15   FGX.WT.B 0.85   SSL.WT 1.92   ML.WT.A 2.07   HCF.WT 15.6%   OCB.WT 0.005 $0.00 Very Overvalued
  Titanium Corp. Inc   MB.WT 30-Mar-15   RTU.WT 0.89   PMI.WT 1.92   TCM.WT 2.13   BSC.WT 15.5%   PNP.WT 0.05 $0.00 Very Overvalued
  Torex Gold Resources Inc   P.WT 19-Jul-15   BAA.WT 1.1   CWB.WT 1.86   K.WT.D. 2.73   FGX.WT.C 14.8%   GMC.WT.B 0.01 $0.00 Very Overvalued
  Touchstone Exploration Inc   GCM.WT 24-Aug-15   TCM.WT 1.44   NQ.WT 1.84   NGD.WT.A 2.75   FGX.WT.B 14.8%   NOT.WT 0.5 $0.02 Very Overvalued
  Tuscany Intl Drilling Inc   PCT.WT 21-Sep-15   BRK.WT 1.5   BRD.WT 1.79   TAO.WT 3.1   RF.WT 14.6%   GMC.WT 0.005 $0.00 Very Overvalued
  U S Silver Corp   SSL.WT.A 19-Oct-15   ML.WT.A 2.06   ECU.WT 1.75   G.WT.G 3.13   PPF.WT 14.6%   GTE.WT 0.04 $0.00 Very Overvalued
  Urbana Corp   VGZ.WT.S 22-Oct-15   TAO.WT 2.8   GCM.WT 1.67   QUX.WT 3.5   GMF.WT 14.3%   RML.WT 0.02 $0.00 Very Overvalued
  US Oil Sands Inc.    DPM.WT.A 20-Nov-15   G.WT.G 3.13   BPV.WT 1.66   AVL.WT 3.86   HGI.WT 13.3%   TMB.WT 0.155 $0.00 Very Overvalued
  Vast Exploration Inc   FEO.WT.A 30-Nov-15   AVL.WT 3.85   BRK.WT 1.6   CKG.WT 4.59   XYM.WT 12.9%   CCJ.WT.A 0.005 $0.00 Very Overvalued
  Vega Resources    FEO.WT.B 30-Nov-15   CKG.WT 4.12   EDR.WT 1.59   DPM.WT.A 5.35   CWB.WT 10.5%   CMT.WT 0.005 $0.00 Very Overvalued
  Vista Gold   GAA.WT 30-Nov-15   BWR.WT.A 4.85   MFL.WT 1.58   BNK.WT.A 5.68   RBN.WT.A 9.3%   COX.WT 0.005 $0.00 Very Overvalued
  Vista Gold   TMD.WT 10-Dec-15   DPM.WT.A 5.03   NOT.WT 1.56   EDR.WT 6.14   PIC.WT 9.2%   EDV.WT.C 0.01 $0.00 Very Overvalued
  Vista Gold   LRT.WT.A 23-Dec-15   FNV.WT 5.11   DPM.WT.A 1.55   FNV.WT.A 6.2   OCB.WT 8.2%   EMC.WT 0.005 $0.00 Very Overvalued
  Vista Gold   ALE.WT 22-Feb-16   BNK.WT.A 5.56   ML.WT.A 1.48   FNV.WT 6.3   OBF.WT 8.2%   FEI.WT 0.005 $0.00 Very Overvalued
  Vuzix Corp   PAK.WT 14-Mar-16   EDR.WT 6.16   WLT.WT 1.46   MFL.WT 8.28   FSS.WT 8.1%   FEI.WT.A 0.005 $0.00 Very Overvalued
  Walter Energy   CRK.WT 24-Mar-16   MFL.WT 8.1   BNK.WT.A 1.4   WLT.WT 9.5   RTU.WT 8.1%   KAT.WT 0.02 $0.00 Very Overvalued
  Western Copper   AHX.WT 30-Mar-16   CWB.WT 16.1   GLD.WT 1.3   CWB.WT 16.2   CTF.WT 7.9%   MGA.WT 0.035 $0.00 Very Overvalued
  Xinergy Ltd   LQD.WT 13-May-16   SLW.WT.U 16.55   BWR.WT.A 1.25   SLW.WT.U 18.6   SIN.WT 7.2%   MGA.WT.A 0.05 $0.00 Very Overvalued
  Yukon-Nevada Gold   FNV.WT.A 16-Jun-17   AEM.WT.U 17.80   USA.WT 1.1   AEM.WT.U 22.28   EIT.WT.A 5.9%   YCM.WT.A 0.04 $0.00 Very Overvalued
  Zazu Metals Corp   NGD.WT.A 28-Jun-17   WLT.WT 93.56   LQD.WT nt   LQD.WT nt   SCI.WT 5.4%   LQD.WT nt $0.39 Not Trading