Most cashed in and then sold above $1.00.
About 18,000,000+ million $0.65 warrants were cashed in before the run up and then sold at a very nice profit at around a dollar in the winter of 2011.
Same thing happened with the PTQ HT. Those in the loop bought heavily early and then sold off, Sprott was one of them, before the expiry for another nice profit.
All that is left of the $0.65 warrants, 4,810,000 will expire on May 21st (3,964,000) and June 1st (846,000). You can be fairly certain that all of those will expire.
Then we jump to the big bunch @$1.45 that expire at the end of the year. 23,399,402 on December 30th, 6,100,598 on January 7th, and finally 2,500,000 on January 26th.
That is about 18% dilution that will be avoided. As Loji stated, either way there is some upside from the current mid forties where we are now. Since PTQ never reacts to better fundamentals, there is no reason to believe the stock will move above that $1.45 level in the next twelve months.
My guess is that we will see some real appreciation near the end of calendar 2014. In the meantime we may visit the mid-thirties again. Continuing to pour money into exploration and growing the company will keep the EPS down and of course PDI will be gone. In the meantime it is fun to watch our little oak grow. Someday we will soar "over the rainbow"!
Those who don't want to wait might as well sell and move on. Patience and fortitude is what it takes to make serious money.
Think of those with the understanding to buy ten years ago @$0.03, not one of them ever seems to complain. It is not about the quick money, it is the legacy!!!
AI
