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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Ed Ajootian who wrote (155387)	8/13/2011 5:55:26 PM
From: Amark$p	1 Recommendation Read Replies (1) \| Respond to of 206093

Yes, it sure seems Nimin is unconcerned about adding $10M to its cash balance from the warrants, and good to learn that Wimbish states he will not extend the warrants beyond September. The 6.4M remaining warrants represent about 10% dilution of NNN 66.7M shares outstanding. So a case can be made that Nimin management happy not to have the added shares as this would dilute CFPS/EPS going forward. Given the ramp to production over the next 5 months and likely share price increase, maybe NNN thinks it can issue new PP for less than 6.4M shares and at a much better price (e.g. above $2). FWIW, another 258K warrants exercised subsequent to end of quarter, so that adds another C$400,000 to the cash coffers. Personally, I would like to see only 2M of the 6.4M remaining warrants be exercised. This should be more than enough cash cushion to finance all capex going forward, given current cash flow. You would think there would be at least one large, value-minded investor willing to pick up 1M or 2M shares at C$1.55 given Nimin's NPV10 reserve calcs.