- Mining tycoon Eric Sprott allowed 12.5 million Benton Resources (TSXV:BEX) share purchase warrants to expire unexercised
- The expiry decreased Sprott’s investment by 5.3 per cent
- The company explained that Sprott has a long-term view of the investment and may acquire additional securities or sell the securities in the future depending on market conditions
- Benton Resources stock last traded at $0.16 per share
Mining magnate Eric Sprott allowed 12.5 million Benton Resources (TSXV:BEX) share purchase warrants to expire unexercised.
This comes despite Benton’s historical stock performance which, despite being down 8.33 per cent over the past month, has grown 77.77 per cent since this time last year and is up 220 per cent since 2019.
The expiry decreased Sprott’s investment – held by 2176423 Ontario Ltd., a corporation he beneficially owns – by 5.3 per cent.
The philanthropist and billionaire mining investor beneficially owned 28.7 million shares and 20.6 million warrants representing 16.6 per cent of the outstanding shares on a non-diluted basis. As a result of the warrant expiry, he now beneficially owns 28.7 million shares and 8.1 million warrants.
In a news release, the company explained that Sprott has a long-term view of the investment and may acquire additional securities including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and / or other relevant factors.
Benton Resources Inc. is a mineral exploration company with a diversified, highly prospective portfolio spanning gold, silver, nickel, copper, lithium, cesium and platinum group elements.
Benton Resources stock (TSXV:BEX) last traded at $0.16 per share.
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