I have some of those wrts. The exercise price is $1.75 but the stock had to trade above $2.50 for a spell in order for the company to trigger the early conversion. Personally I think that was a mistake since it comes at a time of seasonal weakness and the stock is down more than 20% now since they made the announcement. Extra cash in the bank is nice but I am not convinced the company needed that money right away and was it really worth it to create an air pocket under the stock just before the sell-in-May crowd buggers off?

I think its time for IPT to get that mill cranked up to full capacity and deliver a blowout production quarter. Silver has nearly doubled since year end and that alone would contribute a huge chunk of cash to the bottom line if they got their production running flat out. There is plenty of cash left from the placement to fund the expansion plans, IMO.

cheers!

mike