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Gold/Mining/Energy : Canadian Warrants Only

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From: PaperPerson	5/8/2008 9:19:08 AM
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Yamana earnings were excellent, I thought! biz.yahoo.com Wire services reported it positively. biz.yahoo.com The five-day Yamana chart is much more fun to look at finance.yahoo.com than the three-month chart. finance.yahoo.com And the pre-market trading in the stock has a bullish tone. AUY, New York Stock Exchange $14.38 0.63 (4.58%) as of 9:02AM ET on 05/08/08 I see $20 coming unless gold falls apart. As of Wednesday evening, the warrants were still just c$3.02. Twenty months left. Two warrants for six bucks gives you the right to buy 1.1 share at c$12 per share. At C14.00, which is going to be the morning price, your two warrants give you the right to buy $15.40 worth of Yamana YRI for $12.00. So intrinsic this morning is $3.40 per two, or $1.70 per warrant. Not the best leverage in warrant-land, but this is becoming a blue-chip. That gives it AEM type appeal. We all know what happened with those warrants! Michael

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