Welcome aboard stockwell.

PEM is a great operation. Super potential.

Warrants seem to be a "two-edged sword."

The bad news - They do dilute the total number of shares trading (though most of us think of the "fully diluted" numbers when calculating the total of the shares).

The good news - The provide capital to the company for drilling. And drilling will (hopefully) expand the resource. And as the resource expands, the value of each share increases.

So, I rather like warrants -especially if they are "out of the money." OTM warrants (like the $.50's) only get exercised because the share price has moved up. And people usually only exercise them when they are way above the "strike" price.

On a side note - if the warrants flood the market (as new shares for sale), it sometimes reduces the price and provides a temporary "bargain" for everyone else.

-panamax