CPN-v: Carpathian Gold - Page 5  

back to 74 cents on this one. 3rd set of assays due anyday now.

Dude, I think this one could readily go well over a dollar with solid 3rd assay results. Word is the results are extremely good.

back over 80 cents! now 81 cents. cpn has a huge discovery on their hands so not sure why people were selling off below 70. i added over 50k at 68 to 70 cents.

extremely good results on this one. retailers uncertain of interpreting nr sold off some after the nr issued but by end of day, solid buying came back in.

Carpathian Gold Inc. calls in warrants

Apr 20, 2006 2:21:50 PM

TORONTO, Apr 20, 2006 (Canada NewsWire via COMTEX News Network) --

Carpathian Gold Inc. (TSX-V:CPN) announces that it has elected to call upon the unexercised purchase warrants issued by the Corporation on November 30, 2005 and January 27, 2006. To date, 9,000,000 of these warrants have been exercised for gross proceeds of $1,800,000, and the Corporation wishes to call the remaining 6,333,000 warrants, to be exercised on or before April 27, 2006, at a price of $0.20 per share. In the event that these outstanding warrants become exercised, the Corporation will realize additional gross proceeds of $1,266,600 and the total number of shares outstanding will be 92,334,096. All unexercised warrants as at the end of the business day on April 27, 2006 shall automatically become void for termination and will be of no force and effect. Common shares acquired upon the exercise of these outstanding warrants will remain subject to the hold period that is in effect, and accordingly shall be restricted from trading until May 28, 2006.

The call was triggered by the weighted average trading price of the common shares of the Corporation exceeding $0.30 for more than 20 consecutive trading days, which occurred from March 14, 2006 to April 11, 2006. Holders of the warrants wishing to exercise must follow the exercise procedures described in the warrant certificates, or alternatively, contact the Corporation at 416-368-7744.

The Corporation intends that the proceeds from the exercise of the warrants will be allocated to general working capital and the on-going drilling program on the wholly owned Rovina Exploration License, located in Central Romania, where significant gold-copper porphyry prospect is being evaluated.

Additionally, Ms. Linda Prager, CA, has been appointed Chief Financial Officer of the Corporation effective May 1, 2006. Ms. Prager has been the Controller of the Corporation since 2003 and replaces Mr. Daniel Whittaker who has resigned to pursue other business opportunities. Ms. Prager's appointment is subject to TSX approval.

Carpathian Gold Inc. is a mineral exploration company focused on gold exploration on its properties in Romania.

no pete, you have misread. the company issued a units offering in the past. the units offering contained a proviso that should the stock traverse a certain price over so many days, then it triggers the right for the company to call in all unexercised warrants. otherwise, without this proviso, warrants could be outstanding for close to two years, representing an uncertain overhang in terms of when or if they will be exercised. this way, the warrants get cleaned up and the company gets cash. i subscribed to two pp offerings with this proviso, cpq and nox.

i sold about half my shares at 74 and 75 thinking it looked like it might drop, but did not note the warrants call in. will rebuy back in next days.

tough to say. in a way, something similar happened with nsm as warrants tranche being exercised. in nsm's case, it took sp down about 20%. all of these warrants are in the money. the negative is that this represents downward pressure. the positive is that the longer term, the warrants overhang which was always there is rid of faster so that by summer, it is all clean, and if drilling continues to bear out good news, as i believe it will, then longer term the scenario is good--especially since no potential overhang of people severely in the money selling. be mindful that a good chunk of the warrants were taken in by insiders and possibly institutions, so not all of it will represent a threat of selling pressure. that said, it is still a hefty amount. i always take some off the table where possible. i took out half last several days to add more ple the other day but also to increase my cash position as i have posted several times i am doing.

ponyboy, what it means is cpn has a nice discovery on its hands. that's the upside. the gold values are low grade but over huge widths. that's another upside. the downside is the grades fluctuate quite a bit so much depends on the average grams gold over a certain amount of width. the risk is cpn has issued only 7 holes which is very early stage. sp has moved up nicely since start of year. the warrants will be exercised bringing in money to company coffers, which is good, but these warrants, which convert into trading shares a month from now, are all handsomely in the money at 20 cents. will they represent a drag on the sp for a spell? moreover, will there be profittaking by these new shares a month from now? will the company try to time good news at that point, that is, no further results until then? these are the questions i am mulling.

huge iceberg buy on this one at 71 cents that is spurring buying above this price.

as i posted earlier, i sold half in the mid 70s just to take profit but to play it safe and as i posted i would do, i rebought it all at 64 cents today. more drilling results expected next week. i continue to believe they have a major find on their hands.