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Gold/Mining/Energy : Greenstone (GRERF)
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To: ricckk who wrote (10)3/8/1997 7:10:00 PM
From: Ron Everest   of 138
 
Here is a question for you Rich, and others who might like to comment.

GRE.wts are trading in the C6.50+ range and can be exercised for a cost of $15.75 for an extended period. What would happen if there was a takeover and the intrinsic value of the warrant was less than what the warrants are trading for,.

By my estimation, there would be a loss on the warrants if there was a takeover with the current pricing. It is possible that the current values being placed on the warrants are for time factors and are ignoring the takeover factor. Unless, of course, any takeover would spike GRE share values..

Thanks,
Ron E
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