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James I am OUT of the trade as posted earlier from 8-9. Yes 20-1. # warrants= 20 for 1 share of oban Strike price= strike price 15 cents (but you need 20 warrants to own 1 share) then effective price 3$ Expiry = 2018
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James At 8 cents = 20 warrants = $1.60.. You are betting Oban is above $4.60 before expiry in 2018. ($1.60 plus $3 exercise price) cheers
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@Brandon I don't think that's right.
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@Brandon The Warrants were rolled back, too. There was 130M warrants @ 15c, it became 6.5M at $3.00
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@lukejackson There are still 130m warrants
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@Brandon Read the latest FS. "As at November 11, 2015 the Corporation had 54,694,202 Common Shares outstanding, as well as 4,269,500 stock options to purchase Common Shares at a weighted average exercise price of $1.46 per share and 10,092,163 warrants at a weighted average exercise price of $3.24 per share. This amounts to 69,055,865 Common Shares outstanding on a fully diluted basis"
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@Brandon For that fully diluted figure to be right, each warrant has to buy one share.
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@Brandon There are not still 130M warrants, wherever you are getting that figure hasn't updated their outstanding from the takeover and consolidation.
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@lukejackson Sorry there are 130m 1/20th warrants
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@Brandon "As at May 9, 2016 the Corporation had 125,006,041 Common Shares outstanding, as well as 10,215,380 stock options to purchase Common Shares at a weighted average exercise price of $1.22 per option and 22,295,200 warrants at a weighted average exercise price of $2.36 per warrant. This amounts to 157,516,621 Common Shares outstanding on a fully diluted basis. "
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@Brandon 22,295,200 warrants
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@Brandon "Issuance of warrants on acquisition of EAG (ii) 6,506,629 3.00"
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James As mentioned before - # warrants= 20 for 1 share of oban Strike price= strike price 15 cents (but you need 20 warrants to own 1 share) then effective price 3$ Expiry = 2018.. if your buying at 8 cents = 8 times 20 = 1.60 plus $3 exercise price = Oban better be above $4.60 on expiry else your losing coin
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@Brandon I think you're wrong. The number of warrants and strike price was adjusted. There's only 6.5M out @ $3
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@Brandon not the 130M quoted elsewhere.
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@Brandon This is the problem with warrants, there's conflicting data.
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James cleary you don't understand Brandon call the company bro
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@Brandon Did you call them?
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@Brandon Looks like stockhouse is on side with you.
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@Brandon What an incredibly confusing system.
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James Yes of course. I do my DD before buying. :)
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James I agree is confusing
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@Brandon So did I, and different sources had different outstanding.
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@redkeymtg @james This is what the broker explained to me. Why did you buy at 20 to 1 at .08? Let's say you bought 5000 worth of warrants 62500/20= 3125 @ $5 a share you'd earn .40 per share= $1250 profit. If you'd bought the common share you'd be at $11,111 based upon 2,222 shares. If the stock goes to $10 you'd take $3125 * 5.40= $16875 vs. $22,222. The break even point between the warrants and shares is around $15 per share. $32,500 in warrants vs. $33,330 in common shares. So you should buy warrants if you think the stock price is going to go over $15 per share in the next 27 months... seems like unneeded risk to me. Buy the shares not the warrants! $obm $obm.wt #jamestrades
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James Then easiest way to double check is with the company :)
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@Brandon If its something they get called about you think it would be mentioned in the MDNA
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@Brandon because in the latest they explicitly say there is 6.5M $3 warrants outstanding
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@Brandon which is kind of a half truth
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James sort of ya 6.5 * 20 = 130 M trading but you need 20 of the ones that are trading to buy 1 so ya kinda sketcy
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@Brandon Yeah, what they should have in that table is the outstanding, the conversion factor and the effective dilution.
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James I agree bad job by Oban confuses investors
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@Brandon Also online brokerages have zero information in the trade or info screen to indicate conversion factor. I can see conversion price, but that's it.
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@Brandon Also, I've done share consolidations before, and the outstanding warrants were consolidated at the same ratio. I guess that only didn't happen here because they were traded.
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James @redkeymtg read the thread I am OUT already and was a TRADE #jamestrades
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anonymous yo
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James Buying $oco this morning at 4 cents #loadup $tmm $gga
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@BruceWayne @James how did you cross post from #jamestrades to the index?
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@tommy @BruceWayne its an admin thing. My #jamestrades alert went off and I haven't heard from my pal James Fraser in a while. Want to highlight what he's doing. Love to hear more about the trade and what ur up to @james
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@Newton Miss you @James! #comebackjamesfraser.
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@tommy @Newton exchanged texts with James last week. He's spent the summer offline prospecting and doing mineral exploration in Northern BC and the Golden Triangle. Think he will be back soon
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James Bought 1000 shares of Painted Pony (PPY:TSX) at 8.24 this morning. $PPY Reminds me of CNE which I have done well on. $CNE An increase in production and a rising natural gas price is the thesis. #natgas "The Townsend facility began producing natural gas sales volumes on July 7, 2016, more than 30 days ahead of Painted Pony's schedule. The early commissioning of the Townsend facility has provided Painted Pony the opportunity to accelerate production volume growth in the second half of 2016. Painted Pony expects raw natural gas production volumes through the Townsend facility to average over 50 million cubic feet per day during August, 2016; 100 million cubic feet per day during September, 2016; and 150 million cubic feet per day during October, 2016. Currently at approximately 50 million cubic feet per day of production throughput, the Townsend facility has been performing per expectations with no material operating concerns or deficiencies. Painted Pony continues to anticipate a year-end exit 2016 production rate of approximately 240 million cubic feet equivalent per day (40,000 boe per day)."
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@tommy @James welcome back! We want to hear all about your summer in the bush. Come and see me soon. Please note $PPY CEO Patrick Ward is presenting at the Subscriber Summit this year on Oct 11. Hope you can make it. https://www.eventbrite.ca/e/vancouver-subscriber-investment-summit-2016-tickets-24349874129?aff=CEO #jamestrades
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James Added more $PPY today at $7.93. If I liked it at $8.24 gotta love it sub $8. #natgas #jamestrades
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James Buying $MRZ today at $1.86. Please do your own DD.
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James I’m BUYING the cheapest royalty company on the street - http://www.pennyminingstocks.com/im-buying-cheapest-royalty-company-street/ $MOX #jamestrades
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@Newton My concern about #coal for $MOX is that it is a 'dependency market'. Not sure how widely this idea is known/used, as I heard it from terrajoule.us on #RealVisionTV. Basic idea is that coal is still widely used, but has limited growth potential on demand side. Markets like that can have periodic rallies in prices, but they are not really sustainable bull runs to higher levels. Expect reversion back down. That line of thinking makes me uncomfortable about coal because it is 'when it goes back down' -- not 'if it goes back down'. Makes me think you have to look at coal as trade rather than long-term hold. Cheap valuations available make for good potential trades, #jamestrades, so maybe something there to $MOX. Thanks @James for article on the stock!
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James Hi guys hope you got some $MOX has been a nice winner :) It still is cheap. I am about to load up on a speculation stock with huge potential. Nobody talking about it around here so even better. OK back to the DD before Warren Irwin beats me to a position :) Cheers #jamestrades
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@James Buying $IZN at 13 cents this week. Sold off hard lately on fairly low volume. Zinc inventories continue to decline. Should have a bounce which will make it a nice trade. DYODD #index #jamestrades
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