Warrants (full and half)

A warrant is an issuer-issued option giving the holder the right (not obligation) to buy a defined number of shares at a fixed exercise price for a defined period (typically 2–5 years). In mining placements, warrants are usually attached to placement units — a unit might be one share + one full warrant, one share + half a warrant, etc. The warrant overhang (total warrants outstanding times their potential dilution) is a critical signal for assessing future share-count growth.