Hi SSTHV, here is quick example for reference, at today close  AUN \$1.05 and AUN.WT  \$.445, if the share price doubled to \$2.10 before Nov 29th 2013, you would profit 100% with AUN but 147% or more with AUN.WT. The warrants will never be less than the share price(\$2.10 in this example) minus the exercise price(\$1.00) thus the warrant would be \$1.10 or more, if AUN was \$3.15, AUN.WT would be \$2.15 minimum. Therefore profit would be 200% and 383% respectivly. This is not counting the premium that the warrant might have depending how much time is left before expiry.For example \$105K gets you  100k @ \$1.05  for AUN and 235,995k @ \$.445 for AUN.WT, go forward to Nov 2013 and say AUN is \$2.10, you could excise your warrants at a cost of \$235,995, you don't need to pay more money if you don't have it, your broker would exercise them then sell enough to cover. In this example the broker would sell 112,378 AUN @ \$2.10 to cover the exercise of the warrants leaving you with 123,617 AUN to hold for how ever long you want, so in this example if the stock only doubles in a year but you have gained 23,617 extra shares  by buying the warrants. If Silver takes off and Auncana as well the gain is huge.

Here is a link that explains it all

Bruce