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Gold/Mining/Energy : International Precious Metals (IPMCF)
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To: Bruce McGaughey who wrote (421)11/12/1996 1:08:00 PM
From: C L   of 35569
 
There are quite a few $1.00 warrants in the U K that may be being used in an arbitrage play. The warrant plus $1 gets a share of the stock and must be exercised or lost by the end of the month. A fund holds 500,000 of them, sells 250,000 shares of the stock (short or off their shelf) and uses the money to exercise the 500,000 warrants. They have free stock plus some cash. IMO we are getting one last chance to buy a bargain.

C L
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