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Gold/Mining/Energy : Corner Bay Silver (BAY.T)
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To: Krikor who wrote (4287)6/19/2002 9:43:41 PM
From: Canuck Dave  Read Replies (2) of 4409
 
This sucks. With PAA under 12$, the warrants are worth zero, zip, nada.

You can kiss the exploration unit goodbye, also. Only way we make money is if PAA goes above way above 12$ before the merger is complete.

Let's see, to make BAY worth 6$ again....

6 =.385X +.1925(X-12) ----> X=13.74

In other words, PAA must go to 13.74 to make the existing BAY shares worth 6$. This is a significantly worse deal than first announced.

Shit!

CD
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