On March 19th approximately 9M warrants and options are set to expire. 8M of these are warrants that were created some time ago when Sahelian first became Sage Gold and have an exercise price of $1.25. Anyone have any odea who owns these? The remaining are ~900K warrants and ~150K compensation warrants with exercise prices of approximately 16 cents.

As it seems safe to assume that none of these 8M warrants @ $1.25 will be exercised, what will happen to them? Will SGX let them expire worhtless? At least this would lower the fully-diluted share count. IMO more likely we will see expire date pushed 5 years into the future.

Regarding the remainng 1M or so option and warrants at 22 cents... it is interesting to not that on March 1, 2009 ~500K options at 12 cents to 'Officers, Consultants & Employees' were set to expire. Since Dec. 31, 2008 ~470K shares have been issued via option exercise. Obviously between now and then the share price has been no where near 12 cents. Were these 12 cent options exercised? Would seem to be the case as there are no other options listed even remotely near current price levels. If so, would be a small bullish sign especially given who these options were granted in the first place IMO.

red911