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Politics : Gold and Silver Stocks and Related Commentary

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To: Bruce Robbins who wrote (8947)	3/17/2005 7:38:36 AM
From: tyc:>	Read Replies (2) of 18308

What do you think of Agnico Eagle's last news report (yesterday) about their Mexican venture. (I have heard that mines can be found on the surface here.... LOL) sedar.com I own the warrants. One of the intriguing things about them is that they represent an option whose (Canadian) strike price is declining because it is denominated in US$. When it was first issued, the US$19 strike was equal to C$26. At todays exchange it converts to only C$22.90. I calculate the current DELTA of the warrant @ 40%, recognising that this is a subjective appraisal (If not 40%, then what ?). 40% implies that the warrant will move up 40% of the amount that the common will move.... a US$3 warrant offers the same "bang for the buck" as (40%*US$15.55) US$6.22 of common stock. The warrant deserves to attract more speculative interest. (Caveat emptor !) (Warning, the warrants have been illiquid with a wide spread)

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