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Gold/Mining/Energy : Precious and Base Metal Investing

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To: Elizabeth Andrews who wrote (2464)	3/16/2002 2:56:14 PM
From: tyc:>	Read Replies (1) of 39344

The ngx warrants are part of the rights offering to all current common shareholders. They will therefore definitely trade on the market..... and IMHO they will be dynamite, because of the leverage to gold prices that I mentioned ! They cannot possibly be boring ! You will see. The arbitrage situation that I imagine I see involves shorting the stock simply to acquire these warrants under the rights offering. According to the warrant price curve that I use, the rights are underpriced because of the (imagined) value of the warrants, (assuming my volatility assesment is correct and that yours is not !). Elizabeth, thank you for your comments.... which I shall not disregard.

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