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Gold/Mining/Energy : International Precious Metals (IPMCF)
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To: Mark Bartlett who wrote (1661)1/25/1997 8:35:00 PM
From: Amit Ghate   of 35569
 
Hi Mark,

>The warrants cost a buck .... to exercise ... 2.83 total = 3.83 .... now for a warrant
holder to feel comfortable about laying down some more dough ..... they are going
to have to be comfortably over 3.83 .... hope that helps.<

My understanding was that the warrant holders have already spent the $1 to buy the warrants, so that money is gone no matter what. The decision now is whether or not to spend $2.83 for a share, in which case warrant holders will exercise at any price above $2.83. Options and warrants are very similar in that the exercise decision depends only on the exercise price, not on the origianl purchase price of the option/warrant.

Regards,

Amit
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